ATLANTA — The hotel industry is still setting records.
According to Jan Freitag, senior vice president of Tennessee-based STR, United States hotels in 2018 had the highest availability, most sales and the highest average daily rate (ADR) ever recorded.
The total inventory of rooms available was up 2.1 percent in February year-over-year, the first time in history that the annual pace of supply growth has exceeded 2 percent, Freitag said.
Freitag presented the research during the 31st annual Hunter Hotel Investment Conference, which was held from March 20 to 22 at the Atlanta Marriott Marquis in the city’s downtown area.
Read the full story: REBusinessOnline – Hotel Industry Growth Continues, Labor Shortage a Concern