The hotel industry is currently enjoying occupancy rates and revenue per room at all-time highs. Profitability fuels a concurrent trend of investment in upgrades, sustainability and new technology to leverage efficiencies into the future. This trend is amplified by strong private equity activity in the sector and ownership changes which often involve a property improvement plan. Introduction of new supply has been accelerating in recent years and will likely continue until a general economic correction.
High-value markets feel disproportionate siphoning from the rise of sharing economy sites such as Airbnb and Vrbo coupled with increased construction. Given the overall strength of demand and occupancy, initiatives to increase profitability will likely focus on reducing costs through green technologies and operations optimizations even while demand remains relatively constant.
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