financeasianhospitality.com··1 min·For: Owner, Investor, Revenue, GM
Extended-Stay Hits 12-Year Occupancy High
U.S. extended-stay hotels achieved their largest quarterly occupancy gain in 12 years during Q3, with occupancy reaching 77.9 percent as demand outpaced limited supply growth. Sector room revenue surged 10.3 percent to $5.85 billion, driven by strong gains in ADR and RevPAR.
Key Takeaways
- 1Occupancy climbed 1.8 percent to 77.9 percent, marking the third consecutive quarter of growth.
- 2RevPAR increased 5.5 percent to $97.35, outpacing comparable-class hotels as room revenue hit $5.85 billion.
- 3Supply growth remains constrained due to high interest rates, keeping development below long-term averages.
Source: asianhospitality.com
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