According to the Highland Group, the highest monthly demand growth in almost four years lifted extended-stay hotel revenue per available room and occupancy to positive change for the first time in 11 and 14 months, respectively.
February marked a four-month trend of accelerating extended-stay demand growth which, if continued, should lead to stronger RevPAR gains during the foreseeable future.
“Economy extended-stay hotel RevPar declined again in February but the fall was less than all economy class hotels reported and recent trends indicate it should turn positive in the next one to two months,” Mark Skinner, partner at The Highland Group, said in a statement.