Group business travel drives strong hotel REIT performance in Q2 2023

Business transient demand also improved 6% to the second quarter of 2022, while rates were up 10%, according to S&P Global Market Intelligence

Aug 28, 2023

Stronger business group travel demand helped propel earnings metrics for hotel real estate investment trusts during the second quarter, according to an S&P Global Market Intelligence analysis.

Key takeaways

  • Revenue per available room (RevPAR) continued to grow across the US hotel REIT sector, up 3.8% on a median basis over the strong second quarter of 2022;
  • At the same time, median occupancy for the hotel REIT sector grew 2.7 percentage points year over year to 75.6%, the highest level since the onset of the COVID-19 pandemic;
  • Overall, US leisure travel softened a bit in the second quarter, as many of the nation's travelers chose to travel internationally for summer vacations.

Get the full story at S&P Global Market Intelligence

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