Press Releases

New report: Los Angeles tourism industry lagging behind all other major U.S. cities in post-pandemic recovery

As Los Angeles continues to recover from the long-term effects of the pandemic and most recently the devastating wildfires, a new report released today by the American Hotel & Lodging Association (AHLA) found that the city’s recovery of international visitors from 2019 levels lags behind every other major U.S. city. Coupled with the recent wildfires and the potential passage of legislation before the City Council, the tourism industry is facing significant challenges that have already led to hotel closures and job losses that are contributing to the city’s prolonged recovery and increasing budget shortfall.

stayAPT Suites Signs Multi-Location Franchise Agreement with Destiny Partners, LLC

stayAPT Suites, a leader in apartment-style hotel accommodations, is proud to announce the signing of a multi-location franchise agreement with Destiny Partners, LLC/Destiny Hospitality, LLC. This partnership will bring five new stayAPT Suites locations to key markets across Pennsylvania, including Lancaster, Reading, York, Bethlehem, and Allentown.

stayAPT Suites Solidifies a New Franchise Agreement with Capstone Stay, LLC for Five Locations

stayAPT Suites, a leader in apartment-style hotel accommodations, is proud to announce a new franchise agreement with Capstone Stay, LLC, to develop five new hotel locations. This collaboration brings innovative modular construction solutions to stayAPT Suites, enhancing the brand's ability to expand quickly and efficiently while maintaining the high standards of comfort and design that guests have come to expect. The modular construction approach is a perfect fit for stayAPT Suites, allowing for faster development timelines and more sustainable building practices, while delivering a consistent, high-quality guest experience across all locations.

PwC Manhattan Lodging Index - Fourth Quarter 2024

Occupancy, average daily rate (ADR), and revenue per available room (RevPAR) continued to experience strong growth as the market moves toward stabilization. Luxury hotels notably outperformed their lower-priced counterparts across these key performance indicators, reflecting a broader resurgence in the luxury segment during 2024. For the overall Manhattan hotel market, Q3 RevPAR increased by 5.1%, while Q4 saw an increase of 11.7% compared to the same periods in 2023.

Lodging Analytics Research & Consulting (LARC)’s 1Q-2025 Hotel Industry Outlook and Market Intelligence Reports

U.S. economic growth slowed during 4Q-2024 with Real GDP growth of 2.3%, slightly below the 3.1% increase in 3Q-2024. Despite slowing economic growth, U.S. RevPAR growth accelerated to a 3.6% year-over-year increase in 4Q-2024, driven by a combination of increased demand tied to natural disaster relief and pent-up demand following a swift resolution of the U.S. general election.

Americas hotel performance update

January kicked off 2025 with most countries in the Americas region (excluding the U.S.) reporting year-over-year (YoY) growth in revenue per available room (RevPAR). Argentina and Mexico led with the highest growth in RevPAR, disguised by currency issues that yielded a strong enough lift in average daily rate (ADR) to counter an occupancy decline in both countries.