US: The Highland Group has reported an uptick for extended stay hotel ADR growth after five months of deceleration.
The Highland Group, which provides consulting services to the lodging sector, says the extended stay hotel ADR has increased 12 per cent in September 2022 compared to the same month last year.
Upscale extended stay hotels drove the one point uptick in September’s rate of ADR growth compared to August as economy and mid-price extended stay segments reported their smallest gains in monthly ADR for 18 months.
Mark Skinner, partner at The Highland Group said: “September’s widening gains in average rate across the extended stay segments indicates higher rate growth resistance at lower price points.
The news comes after a tumultuous few months across the global financial markets and specifically for the UK. Read more about how the UK Government’s fiscal U-turns and how they could impact on the accommodation industry here.
In August The Highland Group reported that the extended stay sector is seeing a full recovery.
