US Lodging Market Update: March 2021
By Hua Rong on April 26, 2021
The US Lodging Market Update for March 2021 is now released by Horwath HTL Atlanta.
A few of the highlights from the latest edition include:
- The full benefit of Spring Break on the U.S. lodging market becomes apparent with March’s performance data.
- From February to March, room night demand increased by about 3.5 million nights sold, which posted March at 81% of its 2019 average demand level.
- Of course, what is mostly driving these room nights is the transient demand from various spring break destinations.
- Most notably, the top five markets by RevPAR percent change for March included Miami and Tampa, two major destinations for spring breakers.
- March data also signals the point where Total Traveler Throughput passed over the “cliff” in 2020.
- Airport hotels continue to lead the recovery with increased occupancy in all market segments, particularly for the Transient segment.