Extended-Stay Hotels Outperform Rest of Industry
Atlanta-based business advisory The Highland Group reports extended-stay hotels in October outperformed traditional hotels, with “growth in supply, demand, average daily rate, revenue per available room and revenue exceeding those of the overall hotel industry.” Occupancy in the extended-stay segment declined year over year by 1%, compared to a 1.6% contraction across the U.S. hotel industry.
“The long-term correlation coefficient between the annual change in RevPAR for extended-stay hotels and the overall hotel industry is very high, and we expect that to continue during the near term,” said Mark Skinner, partner at The Highland Group.
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