The revival of the hotel sector continued its upward trajectory in Q4 2021, but labor shortages persist as hotels have trouble filling hourly positions with low-wage workers.
Key hotel metrics closed 2021 with a steady surge, including demand, which increased 40.3 percent compared with a year ago; occupancy, which rose 38.3 percent; revenue per available room (RevPAR), which jumped nearly 100 percent; and average daily rate (ADR), which grew 44.4 percent, according to CBRE's US Hotel/Q4 2021 report, released this week.
CBRE put this rosy year-to-year comparison into perspective by comparing the Q4 2021 hotels results with pre-pandemic levels in Q4 2019: Q4 2021 demand is 5.9 percent short of pre-pandemic demand and occupancy is 7.8 percent less than the level in Q4 2019.
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