June 2, 2026

The first four-plus months of 2026 beat projections, prompting CoStar and Tourism Economics to significantly upgrade the 2026 U.S. RevPAR growth forecast to +2.8%. Year to date through April, U.S. RevPAR growth came in at 4.0%. Additionally, Q1 RevPAR was the highest on record. The overall outlook remains complex, shaped by persistent macroeconomic uncertainty, a longer-than-expected conflict with Iran, and continued pressure on the current administration from both global and domestic front. We would usually expect such a combination to result in performance headwinds, like what we saw in 2025. However, a mix of strong leisure travel demand, increased business travel recovery, and strengthening event calendars are driving performance forward despite the noise. Solid performance on shoulder days (Sunday and Thursday) also reinforces the strength in general demand recovery. Segmentation Since the start of 2026, U.S. hotel demand has increased 2.0% year over year. Transient demand (bookings of less than 10 room nights) began improving during Q4 of last year, but the major difference has been in the improvement in the group segment (bookings of 10 or more room nights). Between February and April, group demand grew 2.7% with gains especially strong in secondary markets that normally host small-to-medium sized events with in-quarter pickup. Chain Scales Demand growth has also been spread across the chain scales, while growth in average daily rate (ADR) is still heavily concentrated in the upper tier. Luxury ADR sat just below +6% during the April YTD period, showing continued bifurcation in the economy and less consumer pricing pressure for higher-spend travelers. Select-service properties, with ADR around +2%, remain under the rate of inflation. This segment was an obvious example of the performance pressures seen in 2025, so improved performance represents the positive shift for several consumer streams. Lower-end properties have seen mild-to-moderate improvements in demand, but rate weakness continues with a consumer base most impacted by pricing pressures. Summer and Events CoStar and Tourism Economics project strong summer performance with some help from the FIFA World Cup. A combination of continued demand strength, calendar offsets, and mid-sized event recovery will sustain a more positive outlook compared with the previous forecast. The picture for large events is a bit more uncertain. Blue Dot Fever is the talked-about pressure facing the live music industry, but BTS’ ARIRANG World Tour is expected to be an impactful draw as it sells out multi-night stadium shows. America 250 events are expected to be a benefit as well but will be more localized and dependent on host location. Development Pipeline Supply expectations have been pulled back for 2026 by 30 basis points, from +0.7% to +0.4%, and 2027 was lowered 10 basis points. The supply pipeline has a near record level of rooms (767k), but only 19% of those rooms are In Construction, which is the lowest number in that phase in 12 years. The uncertain macroeconomic climate, as well as prolonged inflationary pressures and increased business costs have both near-term and lagging impacts on supply development. These influences are elevated

ARLINGTON, Va. – Helped by Memorial Day weekend, the U.S. hotel industry reported positive year-over-year comparisons, according to CoStar ’s latest data through 23 May. CoStar is a leading global provider of online real estate marketplaces, information and analytics in the property markets. 17-23 May 2026 (percentage change from comparable week in 2025): Occupancy: 67.9% (+0.8%) Average daily rate (ADR): US$171.04 (+3.7%) Revenue per available room (RevPAR): US$116.20 (+4.6%) Among the Top 25 Markets, Tampa registered the highest increases across each of the three key performance metrics: occupancy (+15.4% to 77.0%), ADR (+22.9% to US$207.96) and RevPAR (+41.9% to US$160.07). The market’s performance was helped by SOF Week. Las Vegas posted the second-largest gains in ADR (+19.6% to US$287.59) and RevPAR (+25.7% to US$241.57), supported by a strong calendar of events, including ICSC Las Vegas, Licensing Expo, and two BTS concert nights later in the week. Boston reported the steepest declines in ADR (-5.4% to US$267.34) and RevPAR (-14.7% to US$204.10), while St. Louis saw the largest occupancy drop (-12.0% to 67.2%). For more information about the company and its products and services, please visit costargroup.com . Additional Performance Data CoStar’s world-leading hotel performance sample comprises 94,000 properties and 12 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests.

ARLINGTON, Va. – CoStar and Tourism Economics made significant adjustments to the 2026-27 U.S. hotel forecast. For 2026, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were upgraded 1.0 ppts and 2.2 ppts, respectively. Occupancy for the year is now expected to grow after the previous forecast projected a year-over-year decline in the metric. The cautious optimism that framed our outlook earlier in the year has made way for a more robust forecast, driven by stronger demand from both the group and transient segments. Since our last revision, the industry has seen sustained performance growth, with room demand up by more than 8 million room nights year over year through the first four months of 2026. For the remainder of the year, we expect a moderation in demand growth, but the pace will remain conducive for solid ADR and RevPAR gains, even though both will continue to increase below the rate of inflation. Jan Freitag, national director of hospitality analytics at CoStar Group Travel activity appears resilient heading into the summer. Stable job markets and rising household wealth are supporting leisure travel demand despite higher fuel prices. Group travel is also improving alongside robust corporate profits, while international visitation remains weak with hopes of a World Cup bounce. Looking ahead, easing inflation should support a modestly stronger economy next year. Aran Ryan, director of industry studies at Tourism Economics “GOP is expected to rise on increasing total revenues, with the largest growth contribution coming from the rooms department,” said Freitag. “However, expenses are anticipated to grow at a higher rate, resulting in a continued squeeze in profit margin.” For more information about the company and its products and services, please visit costargroup.com .

In our day at Mews Unfold we kept the focus on how the event felt. This is the companion piece, a plain look at what was actually announced, because the product news was the heart of the day and deserves its own write-up. The theme tying it all together was simple. Most hotels run on a stack of separate systems, a property management system for reservations, a revenue system for pricing, a separate inbox for messaging, a separate tool for check-in, another for payments, and so on. Each solved one problem, and together they created a new one: staff spend their days moving information between tools that do not quite talk to each other. Mews used Unfold to argue that those boundaries are artificial, and to present its answer, a single platform it calls the Mews Operating System, or Mews OS, and positions as hospitality's first unified operating system. The full announcement is covered in their press release . Underneath the releases sits a quieter piece of plumbing Mews unveiled on the day: a semantic layer, the result of its Datachamp acquisition. In plain terms, it is the part that lets the different tools share a common understanding of what a guest, a reservation or a room actually is, so the AI features can act with the right context rather than guessing. It is not a product a hotelier would ever see, but it is what allows the rest to work as one. The five releases On top of that foundation, Mews announced five new releases that, together with the existing platform, make up Mews OS: revenue management, guest messaging, business intelligence, accounting and channel management. Revenue management (Mews RMS) brings pricing inside the platform, setting and adjusting rates automatically against live demand rather than in a separate system. Guest messaging pulls WhatsApp, SMS, email and OTA messages into one inbox, with the reservation, guest profile and room details attached to every conversation. It can draft replies and, through the native Mews agent, handle some requests on its own while leaving staff in control. Paired with it are automations, which turn guest information into action without manual steps, upgrading a returning guest, adding an amenity, or routing a task to the right team, with workflows built from templates, adjusted visually, or simply described in plain language. Business intelligence brings reporting and analytics into the platform, so performance data sits alongside everything else rather than being exported and pieced together by hand. Accounting (Accounts Receivable) moves the invoicing and payment process inside the platform, issuing invoices at checkout and reconciling them automatically, which replaces a process that often takes a week or more. Channel management comes through a partnership with SiteMinder , embedding SiteMinder's distribution engine natively inside Mews so rates, availability and content flow to the world's largest network of booking channels without leaving the platform the property already runs on. Nearly 3,000 hotels currently run both systems side by side and will move to the combined product, the Mews

ampliphi, the AI-powered revenue management system, today announced a new integration with Stayntouch, the leading cloud-native hotel property management platform. The partnership delivers automated, AI-driven pricing directly inside Stayntouch PMS, helping hotels grow RevPAR and eliminate the manual workload that still defines revenue management at most independent and mid-market properties. Across the global hospitality industry, revenue management remains heavily manual. Teams spend hours each day logging into rate-shopper tools, updating spreadsheets, and pushing rate changes by hand. The result is a costly lag between when demand shifts and when pricing responds, which translates directly into missed RevPAR. The ampliphi and Stayntouch integration closes that gap. With ampliphi connected to Stayntouch, hotels gain: Automated AI pricing in real time. ampliphi continuously analyzes demand, comp set movement, and booking pace, then pushes optimized rates directly into Stayntouch with no manual intervention. Measurable RevPAR growth. Hotels using ampliphi consistently capture demand they would have priced too low for and protect rate integrity during high-pace periods. 6+ hours saved per week. Properties reclaim time previously lost to rate shopping, spreadsheet work, and manual rate loading, redirecting it to guests, staff, and strategy. A fully connected revenue stack. ampliphi and Stayntouch communicate seamlessly, eliminating exports, copy-paste workflows, and double entry. The integration is purpose-built for independent hotels, hotel groups, and management companies that want enterprise-grade revenue performance without the complexity or cost of legacy RMS platforms. Stayntouch has built one of the most respected PMS platforms in hospitality, and their customers expect best-in-class technology across their stack. Bringing ampliphi into that ecosystem means independent hotels, groups, and management companies running on Stayntouch can now plug in AI revenue management without changing the systems their teams already love. This is exactly the kind of partnership we want to be building. Steve Taft, VP of Partnerships at ampliphi Our partner ecosystem exists to give hoteliers more choice and better outcomes. ampliphi brings a modern, AI-first approach to revenue management that fits naturally with how Stayntouch customers operate. Together we’re making it easier for hotels to price smarter and act faster, without adding complexity for their teams. Casey Ward, Partnerships Manager at Stayntouch The integration is available immediately to hotels running on Stayntouch. Properties interested in modeling the RevPAR upside on their own data can request a personalized walkthrough at www.getampliphi.com .

LARC has released its latest quarterly Market Intelligence Reports for 64 markets under current coverage and the U.S. overall. Furthermore, this latest forecast data has been incorporated into the LARC GIS application, which includes granular data-driven annual RevPAR forecasts for over 19,000 unique geographies across the country. For 2026, U.S. RevPAR is expected to increase by 3.4% to $103.48, driven by ADR growth of 3.4% to $166.05, while occupancy remains unchanged at 62.3%. LARC forecasts 2026 U.S. Hotel EBTDA to increase 5.4%, with roughly 50 bps of margin expansion, and Hotel Values to increase 3%. Over the next five years, LARC expects Hotel Values to increase by a total of 9%. For more detail on the views that shape our current U.S. industry forecast as well as a listing of the U.S. cities we expect to be the best and worst performing markets, click here. On Thursday June 11, 2026, at 2:00 pm ET, we will be hosting a webinar to walk through our current U.S. outlook, provide high-level key takeaways from our market forecasts and answer any questions you may have. Please click here to purchase any of our 65 1Q-2026 Market Intelligence Reports or contact us if you are interested in learning more about LARC’s industry-leading Market Intelligence capabilities. Register for June 11th Webinar

The most important AI debate is no longer who builds the smartest model. As a recent Davos exchange between Microsoft’s Satya Nadella and former UK Prime Minister Rishi Sunak made plain, the economic prize goes to those who diffuse the technology, who actually put it into the hands of their people. For hospitality, a sector that adopts technology far more often than it invents it, that reframing is liberating. The barrier is no longer access; it is leadership and literacy. This paper translates that conversation into practical terms for the people who will staff our hotels, restaurants, and travel businesses over the next decade: which roles will change, which skills will appreciate, and how a new entrant — or a thirty-year veteran — should prepare today. 01. The real race is diffusion, not invention History shows that general-purpose technologies reward the adopters, not just the originators. The standout national example cited at Davos was the UAE — not because it built frontier models, but because it paired top-down leadership with bottom-up adoption . The same pattern can play out in any firm, any sector, anywhere. Tellingly, optimism about AI is often higher in emerging markets than in the developed world, which means the appetite to adopt is frequently strongest exactly where the opportunity to leapfrog is greatest. For hospitality, this is decisive. An independent resort in Southeast Asia can now diffuse AI as quickly as a global chain, because the raw material — affordable intelligence, what the Davos panel called tokens per dollar per watt — is getting cheaper everywhere. What separates winners from laggards is no longer budget or geography. It is whether leadership commits, and whether the workforce is ready. 02. The uncomfortable truth for the job-seeker You probably won’t lose your job to AI. You may lose it to a colleague who uses AI better than you do. That now-familiar warning is the single most useful sentence for anyone entering hospitality. AI literacy is, by LinkedIn’s own data, the fastest-growing skill employers ask for. The practical consequence is stark: for the very same front-office or revenue role, the candidate who can fluently direct AI tools will out-compete the one who cannot. Literacy is no longer a specialism; it is the new baseline of employability, and the concept AI Literacy — long championed in our industry by educators such as Ian Millar — belongs in every hospitality curriculum and every staff handbook. 03. Stop thinking in jobs. Start thinking in tasks Every hospitality role is really a bundle of tasks. AI is extraordinarily good at the high-volume “workhorse execution” — the repeatable, rules-based work — while humans retain the judgment: knowing what to ask, why it matters, and what to do with the answer . When you decompose a job task by task, the future stops looking like wholesale replacement. It starts looking like re-composition: routine tasks are absorbed, valuable tasks are augmented, and distinctly human tasks are elevated. This is the lens every hotelier should apply to