Hotel Report: Overall Occupancy Up Except for Luxury Segment
According to Smith Travel Research, June 2014 data for the U.S. hotel industry was a mixture of highs and lows. Occupancy for the month was 71.7 percent, the highest of any June this century. Group demand grew by 4 percent — hotels sold more than 1.5 million group room nights in June 2014 than in June 2013. Transient demand, however, grew by just 1.7 percent, the second lowest growth for this year. RevPar for June was up by a healthy 7.2 percent but did not match the 10 percent increase posted by May 2014. Luxury occupancy declined 1.9 percent, possibly as a result of the 2.6 percent increase in room supply in that category.