North America Guest Satisfaction Rankings Are In
Skift Take
Luxury and upper upscale hotel segments show strong guest satisfaction, while limited-service segments have declined, with The Luxury Collection, Margaritaville Hotels & Resorts, and others ranking highest in their categories.
The DJIA surged 743 points, while Nasdaq was up 37, the S&P 500 was up 36 points, and the 10-year treasury yield fell .06 to 4.17%. Lodging stocks were higher, mostly across the board. New highs were set by HLT, H and TNL, with the latter up 6% on the day. SOHO rose 5%.
CBRE released its U.S. Hotels State of the Union July 2024 Edition. According to CBRE, 2024 GDP growth was positively revised on expected strength in Q2. Employment growth slowed to 0.2% while wage growth remained roughly 4%, around 80 bps higher than inflation. CMBS borrowing rates contracted to 7.4% for the first time in 3 months. May RevPAR increased by 3.3%, owing to a 2.4% increase in ADR and 0.9% growth in occupancy. The majority of markets experienced RevPAR expansion growth in May, with only 26% of markets experiencing a decline. Adjusting for Easter, total revenues grew 1.4% in March/April combined. Short-term rentals
