Mixed messages abound these days, comprising some bright spots, some not so bright spots, and some challenges. With no coherent theme, the greatest challenge may be developing a forecast for the industry as a whole. But we are undaunted and herewith present our current expectations for the U.S. lodging industry.

Total demand, measured in revenue passenger kilometers (RPKs), was up 11.0% compared to April 2023. Total capacity, measured in available seat kilometers (ASK), was up 9.6% year&on&year. The April load factor was 82.4% (+1.0ppt compared to April 2023).

The U.S. hotel industry reported mixed performance results from the previous week but positive comparisons year over year, according to CoStar's latest data through 25 May.

In recent months, it has become clear that interest rates may stay higher for longer. In this article, we have compiled and analyzed historical hotel interest rate data, as well as indications from the Fed on the anticipated direction of interest rates, to provide some context for hotel financing trends.

The Q1 2024 Global Hotel Construction Pipeline Trend Report from Lodging Econometrics (LE) reveals that the total global pipeline hit an all&time high for room counts and highlights a significant increase in full&service projects at the close of the first quarter.

For March 2024, 0.9% of flights were cancelled, lower than the 1.3% cancellation rate for March 2023 and the 2.0% cancellation rate for pre&pandemic March 2019.