We have written thousands of articles about all aspects of hospitality, including valuations, investing, lending, operations, asset management, and much more.
The U.S. hotel sector continues to show strength, with weekly RevPAR gains averaging 4.0% YTD through April and exceeding 4.0% in recent weeks. We have updated our RevPAR growth forecast for 2026 from 2.2% to 3.0%, and this may be on the conservative side if elevated travel trends continue through the summer vacation and fall convention seasons.
The Manhattan market has continued to achieve strong ADR growth in recent years. Occupancy, however, still lags the historical peak. Although legislative and supply changes should bolster this recovery, recent geopolitical factors, tariffs, and federal policy changes are expected to affect short-term hotel market trends. Our forecast shows full recovery beyond 2019 levels for all hotel metrics by 2027/28.
U.S. hotel performance is posting notable gains compared with 2025 levels, as travel continues to be a priority for many despite persistent inflation, the Middle Eastern conflict, and lackluster job growth. While luxury hotels are posting the greatest RevPAR gains, even economy and midscale hotels are showing occupancy improvement and ADR gains.
U.S. hotel performance is posting notable gains compared with 2025 levels, as travel continues to be a priority for many despite persistent inflation, the Middle Eastern conflict, and longer security lines at airports. While luxury hotels are posting the greatest RevPAR gains, even economy and midscale hotels are showing occupancy improvement (as we expected).
Optimism took center stage at this year’s Hunter Conference, with continued strength in luxury and upper-upscale properties driving greater investor interest. The industry remains hopeful that the FIFA World Cup will prove to be a windfall, Middle East conflicts will soon be resolved, and gas prices will stabilize, leading to a stronger second half of 2026 for RevPAR growth, hotel pricing, and transactions.
U.S. hotels had a difficult year in 2025, with RevPAR down 0.3%—the first non-recessionary decline on record. Conditions are improving, and 2026 appears to be a stabilization year. This playbook examines the pricing floor, segment performance variations, and PIP and debt maturity pressures. It also includes a “seller-readiness checklist” for timing a sale.
U.S. hotels began 2026 steadily, with flat occupancy and slightly higher ADR for January. As of February, HVS expects modest RevPAR growth in 2026 and stronger gains in 2027 and 2028. Cap rates are trending downward as more distressed assets sell, while transaction activity is slowly gaining momentum, supported by lower interest rates.
The 2026 ALIS Conference made one thing clear: the hotel industry is navigating an unusual moment where capital is plentiful, deal flow is scarce, and the operating landscape is rapidly and constantly shifting. Optimism was evident but grounded, marking a clear move beyond post‑pandemic enthusiasm toward more practical, disciplined thinking.
In this article, we provide the market opinions of key HVS global leaders in many different regions of the world. HVS operates across the world, and regional leaders are keenly aware of the dynamics and trends that are influencing performance, profitability, and value.
Immigration policy is reshaping how hotels find and keep talent. This article explores why U.S. hospitality’s heavy reliance on foreign-born workers makes visa caps, enforcement shifts, and processing delays critical business issues – and shows how forward-thinking operators are diversifying recruitment, strengthening internal pipelines, and building resilience to protect service quality and profitability.
We have written thousands of articles about all aspects of hospitality, including valuations, investing, lending, operations, asset management, and much more.
The U.S. hotel sector continues to show strength, with weekly RevPAR gains averaging 4.0% YTD through April and exceeding 4.0% in recent weeks. We have updated our RevPAR growth forecast for 2026 from 2.2% to 3.0%, and this may be on the conservative side if elevated travel trends continue through the summer vacation and fall convention seasons.
The Manhattan market has continued to achieve strong ADR growth in recent years. Occupancy, however, still lags the historical peak. Although legislative and supply changes should bolster this recovery, recent geopolitical factors, tariffs, and federal policy changes are expected to affect short-term hotel market trends. Our forecast shows full recovery beyond 2019 levels for all hotel metrics by 2027/28.
U.S. hotel performance is posting notable gains compared with 2025 levels, as travel continues to be a priority for many despite persistent inflation, the Middle Eastern conflict, and lackluster job growth. While luxury hotels are posting the greatest RevPAR gains, even economy and midscale hotels are showing occupancy improvement and ADR gains.
U.S. hotel performance is posting notable gains compared with 2025 levels, as travel continues to be a priority for many despite persistent inflation, the Middle Eastern conflict, and longer security lines at airports. While luxury hotels are posting the greatest RevPAR gains, even economy and midscale hotels are showing occupancy improvement (as we expected).
Optimism took center stage at this year’s Hunter Conference, with continued strength in luxury and upper-upscale properties driving greater investor interest. The industry remains hopeful that the FIFA World Cup will prove to be a windfall, Middle East conflicts will soon be resolved, and gas prices will stabilize, leading to a stronger second half of 2026 for RevPAR growth, hotel pricing, and transactions.
U.S. hotels had a difficult year in 2025, with RevPAR down 0.3%—the first non-recessionary decline on record. Conditions are improving, and 2026 appears to be a stabilization year. This playbook examines the pricing floor, segment performance variations, and PIP and debt maturity pressures. It also includes a “seller-readiness checklist” for timing a sale.
U.S. hotels began 2026 steadily, with flat occupancy and slightly higher ADR for January. As of February, HVS expects modest RevPAR growth in 2026 and stronger gains in 2027 and 2028. Cap rates are trending downward as more distressed assets sell, while transaction activity is slowly gaining momentum, supported by lower interest rates.
The 2026 ALIS Conference made one thing clear: the hotel industry is navigating an unusual moment where capital is plentiful, deal flow is scarce, and the operating landscape is rapidly and constantly shifting. Optimism was evident but grounded, marking a clear move beyond post‑pandemic enthusiasm toward more practical, disciplined thinking.
In this article, we provide the market opinions of key HVS global leaders in many different regions of the world. HVS operates across the world, and regional leaders are keenly aware of the dynamics and trends that are influencing performance, profitability, and value.
Immigration policy is reshaping how hotels find and keep talent. This article explores why U.S. hospitality’s heavy reliance on foreign-born workers makes visa caps, enforcement shifts, and processing delays critical business issues – and shows how forward-thinking operators are diversifying recruitment, strengthening internal pipelines, and building resilience to protect service quality and profitability.
Robust demand in urban centers continues to drive Canadian hotel values despite high interest rate environment.
