According to STR (Smith Travel Research), occupancy declined 0.9% in September 2019, while revenues dropped 0.3%. Demand has grown 1.2%, but has yet to catch up with supply, which has increased 2.0% YoY.
The good news is, Upper-Upscale and Luxury properties have increased RevPAR by 0.9% and 2.7%, respectfully.
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