The U.S. extended-stay market’s provide in 2022 grew 2.5 % yr over yr, its smallest improve in “several years,” as robust common every day charges drove down occupancy, based on a brand new report from The Highland Group.
Prolonged-stay lodge occupancy in 2022 was under pre-pandemic ranges in almost 60 of the 100 U.S. markets Highland surveyed for the report, largely as a result of “strong ADR growth over the last two years.” The report additionally famous that smaller markets, lead the…
