Can’t find an affordable beach hotel this summer? Your next best bet might be staying in an urban market.
Twenty-one of the 25 top U.S. hotel markets are still in a depression or recession, with revenue per available room – or revpar – far below pre-pandemic peaks, according to a new report from the American Hotel & Lodging Association based on May data.
While rallying in recent months, the majority of the top U.S. hotel markets are in urban areas and face a slower rate of recovery as they wait for business and group meeting travel to pick up.
For travelers, those lower occupancy levels typically mean marked-down room rates.
“You can find some resorts where pricing is fully , but in general, rates always chase occupancy,” AHLA president and CEO Chip