The hospitality industry today is thriving, thanks to an eclectic bunch of newcomers: a growing set of leisure travelers, a humming economy, and seasonal havens that have blossomed into year-round destinations.
Revenue per available room (“RevPAR”) fell to the lowest first quarter average since 2011, as average daily room rate (“ADR”) declined across all Manhattan submarkets. During the quarter, increases in lodging supply, which continued to outpace growth in demand, resulted in the largest year-overyear decline in occupancy since 2009.
Revenue per available room ("RevPAR") reached the highest fourth quarter average since 2006, as growth in average daily room rate ("ADR") rebounded at Manhattan hotels. During the quarter, lodging supply, which continued to outpace growth in demand, resulted in declines in occupancy.
Fourth quarter lodging fundamentals came in just below expectations, with year-over-year RevPAR growth of 2.4 percent, driven by an average daily rate increase of 2.0 percent. Despite expectations otherwise, occupancy levels increased marginally (0.
Growth in average daily room rate ("ADR") began to slow from the first half of 2018, minimizing gains in revenue per available room ("RevPAR") for Manhattan hotels. During the third quarter, minimal increases in lodging supply exceeded growth in demand, with occupancy posting declines year-over-year.
PwC's quarterly Hospitality Directions Report is a near-term outlook for the U.S. lodging sector, commonly used by industry decision-makers and stakeholders to better understand the impact of policy and other macro-environmental factors on the sector's operating performance.
Average daily room rate ("ADR") was up for the sixth consecutive month, driving continued strength for Manhattan hotels in revenue per available room ("RevPAR") growth during Q2. During the quarter, growth in lodging demand continued to exceed increases in room supply, with occupancy posting gains quarterover-quarter and year-over-year.