Hotels have had a very strong summer thus far, with transient demand strong and business demand starting to pick up.
This has been especially beneficial for hotels in the top 25 U.S. markets, where profit levels are much improved from the dismal pandemic performance.
The latest data from STR, CoStar’s hospitality analytics firm, shows the top 25 markets are now at 65% of year-to-date 2019 levels of gross operating profit per available room and are just seven percentage points below the 2019…