US Hotels See Strong Q1 But Holy Week Falters
New Orleans, USA — April 2024
In short: U.S. hotels reported a 3.6% rise in RevPAR year-over-year in the first quarter, despite a 4.6% demand drop during Holy Week.
This performance marks the strongest first quarter for U.S. hotels since 1987, indicating robust recovery post-pandemic. The Holy Week decline suggests continued sensitivity to religious travel patterns, a factor not addressed by current demand forecasting models.
TMCs managing U.S. corporate accounts should anticipate higher RevPAR benchmarks when negotiating rates with hotels. The Holy Week demand dip highlights the need for flexible pricing strategies that account for religious travel cycles, potentially impacting inventory allocation and promotional planning.
What is the significance of the 5.9 million rooms sold?
This represents a 5.9 million increase in rooms sold year-over-year, marking the strongest first quarter performance for U.S. hotels since 1987.
Which travel trade segments are affected?
TMCs managing U.S. corporate accounts and hotel sales teams are directly impacted by this performance, as it sets new benchmarks for revenue generation and pricing strategies.
When does this data reflect?
The data reflects performance for the first quarter of 2024.
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New Orleans, USA — April 2024 In short: U.S. hotels reported a 3.6% rise in RevPAR year-over-year in the first...
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