Contrary to the latter stages of a typical hotel development cycle, all performance metrics for extended-stay hotels started accelerating in Q3 2017, and a revenue-per-available-room growth trend trajectory like four years ago seems to be established.
Some of this was due to a boost from hurricanes, but upticks in the overall hotel industry metrics in Q4 2017 and early 2018 suggest the growth is more fundamental. However, some markets will not be enjoying the party this year.
Eight years after the trough of 2009, increasing room supply growth and record numbers of new extended-stay rooms opening would usually cause occupancy to decline, like what occurred in late 2015 and early 2016.
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