Throughput climbed to 104% of 2019-levels in January, but has plateaued a bit in recent months. Travel demand recovered to pre-pandemic levels in early 2023 as marginal improvements in transient business and group demand has offset some slight moderation in leisure demand. has steadily recovered since bottoming in mid-2020, pushing through periodic interruptions from new COVID variants, major weather events, surging fuel prices, vaccine mandates for international travel, and broader economic headwinds. As illustrated through TSA Checkpoint travel volume data - a key high-frequency indicator that we've tracked throughout the pandemic - travel demand in the U.S. Within the Hoya Capital Hotel REIT Index, we track the sixteen largest hotel REITs, which account for roughly $35 billion in market value.įew industries were harder hit by the global pandemic than leisure and hospitality, which faced historic declines in occupancy rates and revenues as travel restrictions and health concerns kept consumers at home. eclipsed record highs in 2022 - but with a notably wide dispersion in performance between markets and segments - as several years of pent-up leisure demand helped to overcome a sluggish business and group travel recovery. Hotel REITs are pacing for a second-straight year of outperformance after punishing early-pandemic declines, buoyed by steady post-pandemic operating improvement, allowing these REITs to shore up their balance sheets and restore dividend distributions after a harrowing pandemic plunge that pushed the sector to the absolute brink.
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This is an abridged version of the full report and rankings published on Hoya Capital Income Builder Marketplace on May 22nd. Thomas Barwick/DigitalVision via Getty Images REIT Rankings: Hotels
Domestic travel recovered to 100% of pre-pandemic levels in early 2023 but has plateaued since February.International travel demand should provide a healthy tailwind over the coming quarters. The final pandemic-era travel restrictions were lifted last week with the ending of the vaccine mandate for foreign arrivals.Despite lingering recession concerns, hotel REITs are pacing for a second-straight year of outperformance after punishing early-pandemic declines, buoyed by steady post-pandemic operating improvement and the long-awaited return of dividends.Rest easy knowing this has been one of life’s most memorable experiences. Return to Hotel Milo and unwind in its lush gardens.
Hop on a Hotel Milo beach cruiser bike for a short ride to the wharf. Buy a hand-painted vase from a State Street boutique shop. Wander through the galleries and pop-up cafés of the eclectic Funk Zone nearby. Discover new pinots on a Santa Barbara wine tasting tour. A region of extraordinary natural beauty combined with a sophisticated but friendly small-town vibe, Santa Barbara presents a sliver of paradise that has inspired countless foodies, artists and surfers alike. Hotel Milo is the consummate host with a wealth of local knowledge for discovering Santa Barbara beyond the vicinity around hotels on the beach. Blending contemporary beach-chic décor and classic Spanish Colonial architecture, Hotel Milo features vibrant beachfront accommodations and beautiful pool and gardens that celebrate the California surf and sun. Hotel Milo, invites you to breathe in fresh Pacific air and revel in perpetual summers that stretch from beaches to mountains to vineyards. Previous Next A CLASSIC SANTA BARBARA HOTEL ON THE BEACHįall in love with Southern California’s relaxed beachside living at one of the most perfectly located oceanfront Santa Barbara hotels.
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