Robust hotel activity continues into 2022
- Demand is robust in spite of reduced service levels
- Average daily rates, revenue per available room and occupancy rates increased during the first quarter of 2022
- Higher ADR and RevPar offset increasing operating costs in the first quarter
Increasing average daily hotel rates and revenue per available room offset the rising operating costs during the first quarter. On average, hotel operating expenses have increased 20%-30% over their pre-pandemic levels largely due to staffing challenges.
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