MMI: July Hotel Occupancy Hits New High


Coming soon – national events: RealShare STUDENT HOUSING in Dallas on September 1-2. RealShare APARTMENTS in Los Angeles on October 21-22. See our complete lineup.

New York City hotel occupancy reached 88/6% for the month in Jul.

CALABASAS, CA—With the lodging sector’s upswing now in its fifth year and showing few signs of losing steam,Marcus & Millichap says the latest monthly numbers attest to the industry’s strength. July saw the highest-ever recorded monthly occupancy rate, a metric that in turn helped lift other performance measures.

Room nights across the US increased 3.5% last month to drive up nationwide occupancy to 75.3%, a year-over-year increase of 170 basis points. ADR rose 5.9% and accounted for most of the 8.3% improvement in RevPAR seen in July, an increase that MMI says illustrates the “considerable latitude” hotel operators continue to wield in pricing rooms. Double-digit RevPAR gains were seen in several of the 25 largest markets…

MMI: July Hotel Occupancy Hits New High

Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.