The U.S. Election Day's Impact on Hotel Revenue
Skift Take
STR reported U.S. hotel data for the week ended November 9. U.S. hotel RevPAR fell -3.5%, with occupancy down -3.5%.
The DJIA rose 47 points while Nasdaq was down 51, the S&P 500 was up a point, and the 10-year treasury yield was up .02 to 4.45%. Lodging stocks were mixed. We saw new highs from MAR, HLT, and TNL and BHR was up 9%, but SOHO fell another -9%, AHT was down -8%, and SOND fell -7%.
Global hotel RevPAR increased by 12.8%, relative to pre-pandemic 2019 levels, through the first eight months of 2024, according to JLL’s Global Real Estate Perspective November 2024. Though performance continues to be robust, demand decelerated for a second consecutive quarter, driven by softening leisure travel stemming from declines in consumer savings, particularly in the United States. Europe remains a bright spot, with RevPAR growth increasing 6.3 percentage points over the last three months, fueled primarily by the Paris Olympics. In Asia Pacific, the reopening of all borders in late 2023 has yet to spur as much travel as expected, w
