Vacationers Drive Strong Resort Location Performance, Buoying Hotel Industry
Questions Linger Over Post-Labor Day Performance for Business Travel-Focused Urban Hotels
The improved performance of hotels in 2021 is by now well established. American consumers, many of them vaccinated and, as a group flush with over $2.5 trillion in additional savings, have flocked to beaches and leisure destinations.
The improved performance of hotels in 2021 is by now well established. American consumers, many of them vaccinated and, as a group flush with over $2.5 trillion in additional savings, have flocked to beaches and leisure destinations.
At the same time, business travel demand is slowly reemerging as well. As corporations reopen offices, some are beginning to send staff to attend trade shows and conventions, so midweek occupancy levels at business hotels have also registered increases.
One way to juxtapose the hotel impact of leisure and corporate travel is to differentiate hotels by location type. STR, CoStar’s hospitality analytics firm, assigns each hotel one of six location types; two of types are "urban" and "resort" locations.