Extended-stay hotel’s performance metrics in April were very good after a generally difficult first quarter, according to a Highland Group report. Monthly room revenue growth was the highest in almost a year, the gain in demand was the strongest in 16 months, and monthly changes in ADR and revPAR turned positive after declining for two and four months respectively.
Extended-stay hotel performance in April beat the overall hotel industry across all metrics.
“The performance of extended-stay hotels in April re-established the segment’s long-term trend of increasing its market share of total hotel supply, demand and room revenues,” Mark Skinner, partner at The Highland Group, said in a statement.