State of Global Tourism, According to the UN
Skift Take
International tourism nearly reached pre-pandemic levels in early 2024, with notable growth in the Middle East, Europe, and Africa, and a full recovery projected for the year.
The DJIA fell 202 points while Nasdaq was down 31, the S&P 500 fell 14 points and the 10-year treasury yield was up .02 to 4.43%. Lodging stocks were lower. VCSA was the biggest mover, down -8% on the day while SVC traded down to a new low.
The U.S. hotel industry reported mixed performance results from the previous month but positive comparisons year over year, according to April 2024 data from CoStar. April 2024 (percentage change from April 2023): Occupancy: 65.2% (+1.2) ADR: $157.31 (+0.8%) RevPAR: $102.51 (+2.0%). Among the Top 25 Markets, New York City experienced the highest levels in each of the three key performance metrics: Occupancy (+2.8% to 84.4%), ADR (+2.6% to $298.98), and RevPAR (+5.5% to $252.46). Markets with the lowest occupancy for the month include Detroit (58.9%) and Minneapolis (59.3%). The Top 25 Markets showed higher occupancy and ADR than all other markets.
CoStar's
