By John Duran on 10/1/2022
In this edition of the U.S. Lodging Market Overview, we partnered with AllTheRooms Analytics, which provides analytics and insights into the Short-Term Rental Market.
November was the third consecutive month of declining weekly room nights sold. Weekly demand recovered for November which was 88% compared to October’s 97% recovered. At this point, the Omicron variant had not taken much effect in the U.S., so the impact could be explained by the market seasonality. Still, not all chain scale segments were down in November as the three lower-priced segments (Economy, Midscale, and Upper Midscale) were all up in Rooms Sold over 2019.
According to short-term rental data from AllTheRooms Analytics, 2021 booking revenues were up significantly over pre-covid numbers due to increases in the number of bookings and the associated ADR. More demand increases were observed in high-priced markets such as Pigeon Forge, Port Aransas, and St. Thomas in the U.S. Virgin Islands.