Luxury resorts have been hailed as a clear winner of the hotel industry recovery over the past few years. Pent-up demand from high-end travelers allowed operators of luxury-class hotels to increase room rates at unprecedented levels. Average daily rates, or ADRs, were 44% higher in the first six months of 2023 than in the same period in 2019.
Luxury Hotel Room Rates Fall Due to Shift in Guest Mix
Demand Plateaus for High-Priced Resort Locations As Urban Hotels Make a Comeback
By Jan Freitag
CoStar Analytics
August 8, 2023 | 7:19 P.M.
RELATED ARTICLES
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In