Chain scale performance
The three top chain scales (Luxury through Upscale) have seen demand growth in every month of 2023. With relatively low supply growth, these three chains have also reported occupancy growth as well during the last four consecutive months. However, Luxury continued to report ADR decreases, although it was almost flat in October.
The remaining three chain scales and Independents showed meaningful declines in occupancy year over year, especially the Economy chain…
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