NEW YORK - Lower-income Americans dialed back their travel spending in April as reduced savings, higher credit card delinquencies, and inflation weighed on household budgets , according to data from commercial real estate analytics firm CoStar.
U.S. room demand in April fell about 2.7% and 3.9% for mid-scale and economy hotels, respectively. Revenue per available room, an important industry metric, fell about 1.7% and 3%, respectively. Revenue per available room is expected to rise 2% in 2024, compared to previous forecasts of 4.1% and after a 5% increase in 2023.
Source: News Formal (newsformal.com)
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