U.S. hotel markets recover from the pandemic
A snapshot of 15 major U.S. hotel markets shows that travel to cities is rebounding, with one notable exception: San Francisco
San Francisco, a top 3 locale in the decade before the pandemic, is struggling. It faces a decline in tech jobs, slow return of Chinese travelers, reduced downtown traffic as more people work from home, and rising crime and homelessness that has tarnished the city's image.
Key takeaways
- Several hotel activity metrics, including average price per room, revenue per room, and supply growth, show most major cities have rebounded from the worst of the pandemic;
- Some, including Miami, Florida, and Austin, Texas, are seeing notable growth in both supply and revenue;
- RevPAR for San Francisco was down 30% in May 2023 from the same month in 2019, and daily room rates are down 14% from May 2019, according to STR data.
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