US economy extended stay demand grows for second month

George Sell George Sell Uploaded 06 October 2020

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US: Economy extended-stay hotels reported a 1.9 per cent increase in demand in August 2020.

This follows a 1.2 per cent increase in demand in July, according to figures from The Highland Group, which says no other segment of the hotel industry reported an increase in month-to-month demand in the last seven months. Economy extended-stay hotels also posted their smallest monthly RevPar loss since the metric started falling in March.

“Economy extended-stay hotels have consistently reported declining RevPar losses over the last five months. The 4.3 per cent fall in August 2020 was less than 10% of the decline in overall hotel RevPar” said Mark Skinner, partner at The Highland Group.

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