Hotels can come in many shapes and sizes, one way of categorizing them is by the level of service they provide, and this can range from limited service to full service. Hotels can also be categorized based on the kind of service they provide, such as casino hotels, spa hotels, and extended-stay hotels. The
, since both rely heavily on international and domestic travelers. Consequently, the hotel industry was also impacted heavily by disruptions in travel caused by the coronavirus (COVID-19) pandemic. While this caused a large decline in the
over the years of 2020 and 2021, this figure was forecast to exceed pre-pandemic figures in 2022, reaching 258.1 billion U.S. dollars.
What are the most popular hotel companies in the U.S.?
The
hotel brand viewed most positively in the U.S. as of the second quarter of 2022, was Marriott. Meanwhile, Holiday Inn and Holiday Inn Express ranked second and third, respectively, in terms of popularity. As of May 2022, the
highest-rated upper upscale hotel brand in North America was Hard Rock Hotels and the highest-rated luxury hotel brand in North America was The Ritz Carlton. There is no universally agreed-upon definition of what differentiates a luxury hotel from an upper upscale hotel. With hotels focusing not just on amenities but also on the overall customer experience, the lines between different hotel tiers have become increasingly blurred. Many hotels that are not at the top of the market use the word ‘luxury’ for marketing purposes, further complicating the matter.
U.S. hotel industry key performance indicators (KPIs)
The U.S. is home to many large cities that are popular tourist destinations and contribute greatly to the country’s hotel industry. Some of the most well-known U.S. cities, such as Miami, New York City, and Las Vegas had the
most expensive hotel rates in the U.S. as of June 2022. The average price for a hotel room in Miami alone reached over 304 U.S. dollars that year, with prices in New York following not so far behind. Along with the
average daily rate (ADR) of hotels in the U.S., other key hotel industry performance indicators include occupancy rate and revenue per available room (RevPAR). In 2022, the
occupancy rate in the U.S. Was 62.7 percent. Meanwhile, the
revenue per available room (RevPAR) in the U.S. was 93.7 U.S. dollars. Although all three hotel performance indicators in the U.S. increased in 2022, only ADR and RevPAR exceeded pre-pandemic levels.
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