U.S. hotel occupancy came in at 52.2%, down 1.1 percentage points (ppts) from the previous week. The dip was expected due to the MLK holiday. The year-over-year decline in the metric (-2.1ppts) was not anticipated but can be attributed, in part, to the severe winter weather that impacted most of the country during the week.
Article - STR Weekly Insights: 14-20 January 2024 - Outside of the U.S., China posted the highest RevPAR gain (+56%) of the 10 largest countries based on supply. Next on the growth list was Japan (+35%), Indonesia (+18%) and Germany (+14%). France and Mexico were the only two top 10 countries to report decreasing RevPAR (-0.8 and -6.1%, respectively).
U.S. Representative Brittany Pettersen announced she has requested nearly $35 million in federal funding for 15 community projects through the House Appropriations Community Project Funding process.
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