Current developments affecting occupancy, room rates, labor, local demand and revenue management. Updated as the evidence changes.
September confidence fell sharply while major retailers moved more aggressively on price. The evidence points to a more value-conscious consumer, not yet to an across-the-board spending contraction.
DevelopingDemandFor the week ending August 29, occupancy, average daily rate and RevPAR were all above the comparable 2025 week.
AcceleratingLaborAccommodation payrolls rose by about 8,600 jobs in August to roughly 1.93 million.
PersistentPricingLodging away from home was up 3.2% year over year in August; hotel and motel lodging was up 2.9%.
VolatileLocal DemandSan Francisco’s RevPAR jumped nearly 60% in one late-August week while other major markets fell sharply.