For the primary time in two years, year-over-year demand for U.S. extended-stay resorts has declined, in line with a brand new report.
In line with a month-to-month report from lodging trade guide The Highland Group, total July 2022 U.S. extended-stay resort room night time demand declined 1.7 % yr over yr and declined 2.2 % within the financial system extended-stay phase, 0.8 % for midprice stays, and a pair of.5 % within the upscale phase.
The demand decline is correlated to robust development in common every day fee throughout all three extended-stay segments, the report additionally famous.
The upscale phase was the slowest amongst extended-stay segments to get better from pandemic doldrums and has skilled the most important preliminary decline. In line with Highland, falling demand for the upscale phase can be linked to discount in provide.