Hotel REITs’ Q1 earnings roughly in line with previous quarter
May 25, 2023 | Chris Hudgins | S&P Global Market Intelligence
Earnings metrics for US hotel real estate investment trusts stayed mostly flat on a sequential basis in the first quarter of 2023, according to an S&P Global Market Intelligence analysis.
Same-store occupancy and RevPAR growth
Median same-store occupancy was in line with the quarter prior at 67.3%. Compared with the first quarter of 2022, median same-store occupancy was up 12.1 percentage points, but down 7.9 percentage points compared to the same period in 2019, which was prior to the COVID-19 pandemic.
Same-store revenue per available room (RevPAR) followed a similar trend, up 20.7% year over year to $164.95 on a median basis.
