Horwath HTL Market Report: US Lodging Market Update: Nov 2020
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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Horwath HTL is the world"s largest hospitality consulting brand with 45 offices across the world providing expert local knowledge. Since 1915 we have been providing impartial, specialist advice to our clients and are recognized as the founders of the Uniform System of Accounts which subsequently has become the industry standard for hospitality accounting. We focus one hundred percent on hotels, tourism and leisure consulting and have successfully completed over 16,000 projects. If you have any questions, please contact James Chappell, Global Business Director at [email protected].