Analysis by Chris Klauda
All financial figures in U.S. dollar constant currency.
Highlights
- Strong weekend offset by slower weekdays
- Sluggish Top 25 Market performance balanced by all other markets
- Group demand impacted by Juneteenth and July 4th calendar shift
- Global RevPAR unchanged
Leisure demand alive and well while business retreats
Healthy weekend performance in the last full week of June was offset by declines across weekdays, resulting in a flat week for U.S. hotels. Revenue per available room (RevPAR) was unchanged (-0.1%), the result of no movement in average daily rate (ADR), at 0.0% or occupancy, -0.1 percentage points (ppts).
There was movement in day-of-week performance with weekend (Friday & Saturday) RevPAR advancing 3.2%, while weekdays (Monday - Wednesday) retreated 2.2%. Shoulder days were also down slightly (-0.8%). Without business travel at pre-pandemic levels, daily and weekly demand will fluctuate up and down.
Chain scale bifurcation continues at a much more muted level this week, with Luxury posting the greatest RevPAR gain (+1.7%), while Economy saw the steepest decline (-1.8%). Hotels across all chain scales followed the day-of-week patterns, with the weekend producing the most positive performance for all chain scales outside of Economy. Weekdays saw declining RevPAR across all chain scales. All chain scales except Luxury posted a RevPAR drop during the shoulder period.