The U.S. hotel industry faces a challenging reality as occupancy levels struggle to recover from the pandemic, impacted significantly by increased supply and changing corporate travel habits.
According to CoStar, U.S. hotels average 63.9% occupancy nationwide in 2024, down from 66.9% in 2019, indicating a stir in the market as demand adjusts.
Jan Freitag from CoStar highlights that steady supply growth since 2019, with 618 new hotels, coupled with a modest demand shortfall, has increased vacancy levels.
The fewer room nights booked reflects a significant occupancy gap exacerbated by an excess of available hotel rooms, challenging owners to rethink their business strategies.
Collection
[
|
...
]