North America
U.S. Hotels Exceed Pre-Pandemic Levels with Strong Recovery in Q1 2023
US hotels surpass pre-pandemic revenue levels in Q1 2023, with a 13% increase compared to 2019, driven by higher room rates.
Despite concerns of a recession and liquidity crisis, US hotels continue to perform well, with leisure travel showing strength and business travel gradually returning.
Significant hotel developments and renovations are underway in various US cities, including new acquisitions, expansions, and upgrades to enhance guest experiences.