Occupancy Down, RevPAR for Upper-Upscale and Luxury Up
According to STR (Smith Travel Research), occupancy declined 0.9% in September 2019, while revenues dropped 0.3%. Demand has grown 1.2%, but has yet to catch up with supply, which has increased 2.0% YoY.
The good news is, Upper-Upscale and Luxury properties have increased RevPAR by 0.9% and 2.7%, respectfully.
Here's a link to the full article from Business Travel News.