RevPAR growth is real, but it is all rate
Occupancy across the tracked set is flat year over year while rate carries the entire increase.
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Group and transient are diverging for the first time in two years
The two demand segments are now moving in opposite directions in most tracked markets.
Pipeline growth is concentrated in three markets
Two-thirds of new room supply announced this year sits in a handful of cities.
The PMS migration wave is finally arriving
Cloud migrations that were deferred for four years are now on the calendar, mostly for the same two reasons.
Revenue management is absorbing the commercial function
In a growing share of properties, one leader now owns pricing, distribution and demand generation.
Guest messaging volume has tripled, and staffing has not
Digital request volume is rising faster than any other guest contact channel.
A 300-key airport property opens with an all-digital arrival
The first phase of a long-planned development has opened without a traditional front desk.
Select-service is where the conversion capital is going
Conversion deals are clustering in select-service assets with strong locations and weak brands.
Residences are back in the mix for urban developments
Branded residential is being attached to hotel schemes again after a two-year pause.