Lodging Sector Update
During October 4-10, U.S. hotel occupancy hit 50% for just the second time since the low point of the pandemic. While a handful of the highest occupancy markets were those in areas affected by natural disasters (i.e. California wildfires), Saturday produced the week’s highest occupancy (65.2%) and ADR ($110), indicating that the leisure and weekend staycation demand seen during the summer may make appearances into the fall. At the same time, occupancy in the Top 25 Markets continues to trail all others.
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