The U.S. lodging industry continued its path of positive
performance since the outset of the pandemic. In 2023, the industry
recorded its highest occupancy levels since 2019 and the highest
ADR (Average Daily Rate) on record, leading to a RevPAR of $97.97,
a growth of nearly 5% over 2022. Lodging supply growth is expected
to be minimal over the next couple of years which bodes well for
the industry's future prospects despite lagging recovery of
business travel and international visitation. However, numerous
challenges remain, from labor shortages, rising insurance costs,
and deferred PIPs (Property Improvement Plan) coming due, to brand
overflow, high cost of capital, and recessionary concerns.
Ankura is pleased to present its U.S. Travel & Lodging Sector Update providing a recap of last year's performance, future outlook, and the latest industry insights.
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