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.
The DJIA was down 256 points while Nasdaq was down 76, the S&P 500 fell 30 points and the 10-year treasury yield was up .02 to 3.72%. Lodging stocks were lower. The only mover of note was AHT, down -6%. The common consensus among lodging analysts is that the Choice Hotels/Wyndham Hotels rumor makes little sense and won’t happen. Most brought up what we […]