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Lodging Sector Update
Post-Labor Day dip in demand, submarket RevPAR growth, seasonal fluctuation in China, and Europe stalls
Because of a post-Labor Day dip in demand, U.S. hotel RevPAR comparisons fell back to -43.2% year over year. However, there were still 47 submarkets that showed year-over-year growth in the metric, which was down significantly from Labor Day week, but up compared with other recent weeks. Although the overall percentage has been low, there has been an upward trend in this comparison since July 4.
China is experiencing routine seasonal fluctuations in occupancy as the country moves further from the pandemic and closer to historical trends. The U.S. has shown mostly flat occupancy with summer ending—the exception was the Labor Day Weekend lift. Europe has fallen into a similar situation as summer holidays end, schools return and an absence of corporate, conference, and international demand remains.
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