NATIONAL REPORT—The 55.1% RevPAR loss extended-stay hotels posted in June was the smallest decline in the three full months since COVID-19 started impacting travel. The segment continues to report progressively lower losses and is outperforming the overall hotel industry by most metrics. Average occupancy for extended-stay hotels was 54% in June compared to 42.2% STR reported for all hotels. At 75.4%, economy extended-stay hotel occupancy is higher than any other lodging category by more than 20 percentage points.
“Economy and midprice extended-stay hotels continue to post the highest occupancy of any hotel industry segment,” said Mark Skinner, partner at The Highland Group.