North America
Sotherly Hotels Reports Preliminary Operating Results
Sotherly Hotels reported preliminary operating results for 1Q23 for their 10 wholly-owned properties. RevPAR was up 21.4% led by an 11.4% jump in occupancy.
Tighter budgets, busy airports, and soaring prices are prompting a more frugal tourist to return . Even high-end travelers are pulling back on their vacation spending, Bloomberg reported.
Lightstone announced the April 12 debut of the 37-story, 727-key Moxy & AC Hotels Downtown Los Angeles.