U.S. RevPar Hit Record First-Quarter Highs
Skift Take
JLL reports record Q1 2025 RevPAR with $4.6B in U.S. hotel transactions, as Middle Eastern, European and Asian investors target urban assets.
We had another strange day in the market with the DJIA down 270 points while the Nasdaq was up 1.6% or 302 points. The S&P 500 rose 42 points and the 10-year treasury yield said hello again to 4.50%, up .04. Lodging stocks were modestly higher.
JLL’s Q1 2025 U.S. Hotel Investment Trends report is now available. A quick overview of some of the key trends outlined includes: RevPAR hit record Q1 highs in 2025, driven by robust ADR. U.S. hotel liquidity remained resilient with $4.6B in Q1 2025 transaction volume, up 23% relative to Q1 2024. Mid-sized deals, sized $50-$199m, drove total liquidity in Q1 2025 as investors have started to capitalize on the return of corporate groups in urban centers and a wide, 67% discount to replacement cost for full-service, urban hotels. Following a surge in inbound foreign investment in Q1, expect Middle Eastern, European, and select Asian groups to be active in 2025, targeting irreplaceable assets in exclusive
