US Lodging Market Update: June 2021

There are promising signs of recovery in the most recent edition of the Horwath HTL Atlanta US Lodging Market Overview.

• Average weekly room night demand in June 2021 reached just slightly over 2019 average weekly demand. While this is significant, it is worth noting that seasonality for the U.S. Lodging Market tends to favour the summer months, shown by the relatively higher demand for the most recent month. Nonetheless, the Economy and Midscale Chain Scale segments showed an improvement in the Rooms Sold relative to 2019, indicating that these segments are leading the charge of the recovery.
• The Miami, FL and Tampa, FL markets showed an enviable improvement in RevPAR compared to June 2019 as travelers flocked to Florida due to the open arms stance of the state. Surprisingly, it was not hotels in Florida that experienced the most significant percentage change in RevPAR (24.5%), but Montana and Wyoming saw a 27.1% increase in RevPAR relative to June 2019.
• Notably, the total U.S. Lodging Transaction Volume in June 2021 showed a tremendous improvement relative to the trailing 12 months, where total transactions improved by 451%. While the transaction volume was heavily from Limited-Service Hotels, the Full-Service volume still showed improvement.