Countries included: United States, United Kingdom, Indonesia, Spain, China, Germany, Guatemala, Jamaica, Bahamas, Belgium, Luxembourg, Switzerland, Croatia and Switzerland
U.S. Performance
Coming off a strong week that aligned with the apex of Spring Break travel, the U.S. hotel industry throttled down during the week ending 25 March 2023. Performance indicators fell week over week (WoW), but some volatility is normal and in line with previous years given the current season. Based on historical patterns, we expect the next surge in performance to occur in the week leading into Easter Sunday as family/vacation-oriented travel gains steam.
U.S. hotel occupancy dropped to 64.9%, down from the year-to-date peak of 67.5% in the previous week. Despite the downshift, occupancy was still the second-best weekly level since late-October 2022. Occupancy also decreased 0.4 percentage points (ppts) from 65.3% a year ago. We do not believe the decrease is a sign of impending weakness but rather a return to normality given that last’s year’s leisure travel was overly robust post-Omicron.