In the November edition of the Lodging Market Overview by Horwath HTL Atlanta, Weekly Room Night Demand continued to decline after losing nearly 3 million rooms sold between October and November. In addition, the number of Weekly Rooms Supply reporting saw its first decline of around 150,000 rooms in November after six months of continuous recovery.
Hotels in the upper-priced chain scales continue to see a greater year-on-year impact to RevPAR, primarily due to a lack of international travellers and conventions/groups. This is evident in the Top 25 Performing Markets, where domestic-centric markets such as Norfolk/Virginia Beach, VA and Tampa/St. Petersburg, FL are seeing a lessening impact to RevPAR in contrast to the deep RevPAR losses in Oahu Island, HI and New York, NY.
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