financeSkift··1 min·For: Owner, GM, Revenue, Investor, Marketing
U.S. Hotel Rates and Demand Hit All-Time Highs
The U.S. hotel industry is reaching historic peaks in room demand and revenue, driving up average daily rates across major markets. Data also indicates that millennials still prefer traditional hotels over short-term rentals like Airbnb.
Key Takeaways
- 1Capitalize on record-breaking demand and revenue levels by optimizing average daily rates (ADR).
- 2Monitor high-growth markets like Miami and Boston where rate increases are outpacing national averages.
- 3Leverage millennial preferences for traditional hotels over Airbnb by emphasizing service consistency and brand loyalty.
Source: Skift
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