ATLANTA—According to The Highland Group, extended-stay hotel RevPAR losses are much lower than the overall industry. The 38.2% decline in extended-stay hotel RevPAR for March 2020 compared to March 2019 compares very favorably to the 51.9% fall STR reported for the overall hotel industry.
Extended-stay hotel RevPAR declines for March 2020 by segment:
- Economy – 9.1%
- Mid-price – 32.4%
- Upscale – 45.4%
“Extended-stay hotels, especially the economy segment, should continue to demonstrate RevPAR loss resilience during the foreseeable future,” said Mark Skinner, partner at The Highland Group.
The Highland Group should have more extended-stay hotel performance data in early May when it releases the First Quarter 2020 report.