Michael Ferguson
2024 HVS Lodging Tax Report – USA
Thomas Hazinski | September 24, 2024
Since room sales generate lodging tax revenues, an overview of hotel market trends provides a perspective on the industry's current and future fiscal impacts. While the negative impacts of the COVID-19 pandemic were unprecedented, as documented in our 2023 HVS Lodging Tax Study, nearly all lodging markets reached or exceeded pre-COVID average rates and revenue generation in 2022. The National Lodging Market has seen recent growth in occupancy, average daily room rates, and revenue per available room. The Average Daily Room Rate (“ADR”) represents the average revenue earned for each room rented in a hotel. Revenue per available room (“R...
2023 HVS Lodging Tax Report – USA
Thomas A. Hazinski | October 2, 2023
By Thomas Hazinski, Michael Ferguson Since room sales generate lodging tax revenues, an overview of hotel market trends provides a perspective on the industry's current and future fiscal impacts. While the negative impacts of the COVID-19 pandemic were unprecedented, as documented in our 2022 HVS Lodging Tax Study, nearly all lodging markets have reached or exceeded pre-COVID levels of revenue generation. Revenue per available room (“RevPAR”), the product of average daily room rate and occupancy rate, is a standard industry metric that combines the effects of occupancy and average daily room rate changes on hotel revenue performance. ...
