The hospitality industry continues to recover from arguably its worst period in history – the health crisis of the past two years that devastated travel, revenue, occupancy and property sales.
Marcus & Millichap's Hospitality National Report – Midyear 2022 issued this week showed room demand through the first six months of the year to be in line with bookings from that period in 2017 and 2018 and down just 3 percent from 2019.
The average daily rate for the 12-month period ending in June was $140.59, up 7 percent from the previous high set in February 2020.
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