Hotel Brands See Guest Satisfaction Boost
Skift Take
- Upper upscale hotels, the property types most associated with business travel, are well represented in the U.S. development pipeline.
- According to the American Customer Satisfaction Index Travel Study 2022-2023, satisfaction across all four industries measured, airlines, hotels, car rentals, and online travel agencies, is up.
- STR reported US lodging data for the week ended 4/15. US hotel RevPAR was up 8.6% year over year.
The DJIA was down 80, Nasdaq was up 4, the S&P 500 was flat and the 10-year treasury yield was up .03 to 3.60%, yet another truly mixed session. Lodging stocks were mostly lower but modestly so. VCSA traded down to yet another all-time low.
Upper upscale hotels, the property types most associated with business travel, are well represented in the U.S. development pipeline. The volume of projects in the segment points to confidence in the future of business travel, according to STR. Upper upscale saw the slowest recovery, but a steady climb in performance and the business travel indicators have supported developer confidence in the segment. The March 2023 U.S. Hotel Pipeline (percentage change in comparison with March 2022) is as follows: In Construction: 154,284 rooms (-0.5%); Final Planning: 239,995 rooms (+34.6%); and Planning: 232,517 rooms (-21.6%). After three consecutive month-over-month increases, the overall number o
