U.S. Leisure Travel Expected to End 2022 14% Higher Than 2019 Levels
Skift Take
- The DJIA fell 100 points, Nasdaq was down 92, the S&P 500 was down 25 and the reason for the punch bowl being taken away from the recent rally was the 10 year treasury yield spiking.
- STR said US RevPAR was up 26.7% year over year for the week ending 10/15.
- A new analysis projects U.S. hotel leisure travel revenue to be 14% higher by the end of this year than it was in 2019.
The DJIA fell 100 points, Nasdaq was down 92, the S&P 500 was down 25 and the reason for the punch bowl being taken away from the recent rally was the 10 year treasury yield spiking .13 today to 4.13%. Lodging stocks were mixed.
STR said US RevPAR was up 26.7% year over year for the week ending 10/15. When compared with the similar week in 2019, RevPAR was up 12.5%.
A new analysis completed in partnership between the American Hotel & Lodging Association and Kalibri Labs projects U.S. hotel leisure travel revenue to be 14% higher by the end of this year than it was in 2019. Additionally, business travel revenue within the hotel industry is expected to reach 99% recovery by the end of this year. Among the fifty biggest hotel markets in the country, about 80% are expected to exceed their pre-pandemic revenue, though that number lowers to 40% in the business travel category. Miam
