Following a period of lacklustre growth in Q1 2018, hotels in Europe recorded an impressive 18.9% increase in profit per room in April as a result of soaring revenues and falling costs, according to the latest worldwide poll of full-service hotels from HotStats.
Future business activity in U.S. hotels rose in April according to the latest reading of the Hotel Industry Leading (HIL) Indicator. e−forecasting.com's HIL increased by 0.4% in April to 138.8, following an increase of 0.3% in March. The index is set to equal 100 in 2010.
For the total year, the U.S. hotel industry is projected to report a 0.4% increase in occupancy to 66.2%, a 2.5% rise in average daily rate (ADR) to US$129.74 and a 2.9% lift in revenue per available room (RevPAR) to US$85.89. RevPAR grew at least 3.0% for each year from 2010 to 2017.
The U.S. hotel industry reported occupancy dipped 0.2% to 72.9% during the week of 3-9 June. ADR rose 2.5% to $131.38 to raise RevPAR up 2.3% to $95.82.