U.S. Hotels Enjoy Second-Highest Room Demand Ever for Month of September
Skift Take
- Stock market indices showed gains on Friday, with DJIA up by 288 points, Nasdaq up by 212 points, and S&P 500 up by 50 points, while the 10-year treasury yield increased to 4.78%.
- San Francisco saw a significant increase in weekday occupancy, and STR reported a 66.3% occupancy rate for US hotels in September 2023.
- Several new hotels and renovations were announced, including Aloft Hotel near Fort Lauderdale, Residence Inn in Vail, and the Union Station Nashville Yards.
The DJIA ended Friday with a gain of 288 points while the Nasdaq was up 212, the S&P 500 rose 50 points, and the 10-year treasury yield rose by .07 to 4.78% on the jobs report. Lodging stocks were mixed. TNL traded down to a new low. SHCO was up 6% to lead the group.
STR said occupancy for September in the US was 66.3%. The preliminary data showed September as the second-highest room demand ever for the month. STR pointed out that San Francisco, the slowest of the top 25 markets to recover from the pandemic, posted the highest weekday occupancy in the last week of September at nearly 90%. So far, in 2023, that market has had only two weeks of 80% plus occupancy.
Green Park Management will soon open a 138-room Aloft Hotel a few miles away from Fort Lauderdale's main airport and cruise terminals. Amenities include a second-floor lobby with a bar and outdoor terrace, a breakfast establishment, a premium fitness center with a yoga terrace, and a 14th-floor covered deck with a rooftop pool, gaming area, and cabanas.
The new 146-suite Residence Inn by Marriott Vail has officially opened in West Vail, Colorado. The property is owned by Vail Hospitality Group, LLC, and managed by Sunridge Hotel Group. Hotel amenities include a fitness center, 850 square feet of functional meeting space, an oversized hot tub on a heated deck, and an outdoor patio with a fire pit and barbecue grills.
The Union Station Nashville Yards has completed a multi-million dollar renovat
