Nearly 75% of Americans Plan to Maintain or Increase Hotel Stays in 2024
Photo Credit: A rendering of an outdoor patio at Tempo by Hilton. Hilton Hotels and Resorts
Skift Take
Almost three quarters of Americans plan to either maintain or increase their number of hotel stays in 2024 compared to 2023, and hotels remain the top lodging choice for likely travelers, according to a survey commissioned by the American Hotel & Lodging Association.
STR’s U.S. hotel commentary - December/Full Year 2023 is as follows: Top-Line Metrics (December 2023, percentage change from December 2022): Occupancy: 52.6% (-1.8%), ADR: $151.12 (+2.1%), and RevPAR: $79.42 (+0.3%). Top Line Metrics (2023, percentage change from 2022): Occupancy: 63.0% (+0.6%), ADR: $155.62 (+4.3%), and RevPAR: $97.97 (+4.9%). Key points include: RevPAR softened each quarter after Q1 due to declining occupancy and moderating ADR. Quarterly ADR was up throughout the year, but inflation-adjusted ADR fell from Q2 onwards. The Top 25 Markets outperformed all others in aggregate. Group demand was stronger than transient each month but still below 2019. Upper Upscale and Upscale chains led industry performance, boosted by recovering weekdays and group demand. December results were impacted by the New Year’s Eve calendar shift. The 2024 RevPAR growth forecasted has been maintained. Forward booking levels are up through April.
72% of Americans plan to e
