U.S. Hotels See Best Rates and Occupancy Since 2019
The DJIA ended Friday with a gain of 395 points, while NASDAQ was up 255, the S&P 500 rose 59 points and the 10-year treasury yield ticked up a little to 4.15%. Lodging stocks were mostly higher but the biggest mover of the day was AINC, plunging -11% to a new low while sister companies AHT and BHR were up 7% and 6% respectively. PEB rose 5% following a positive operations update showing 4Q preliminary results came in above expectations.
The U.S. hotel industry posted its highest ADR and RevPAR since 2019, according to 2023 data from CoStar. 2023 (percentage change from 2022): Occupancy: 63.0% (+0.6%), ADR: $155.62 (+4.3%) and RevPAR: $97.97 (4.9%). Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: Occupancy: (+8.8% to 81.6%), ADR (+8.5% to $301.22) and RevPAR (+18.1% to $245.77). New Orleans (-6.7% to $100.40) an
