Latest news: US RevPAR up; Airbnb's weaker forecast; Apple REIT lowers outlook

US hotel RevPAR up last week. The U.S. hotel industry from July 27-Agust 2 reported mostly positive year-over-year comparisons, according to CoStar data. Occupancy was 69.5% (-0.1% YOY); ADR was $161 (+0.5% YOY); and RevPAR was $111.90 (+0.4% YOY). Among the top 25 markets, San Francisco, aided by a big convention, reported the largest increases in occupancy (+15.5% to 81.7%), ADR (+15.4% to $218.91) and RevPAR (+33.2% to $178.74). Houston recorded the steepest drop in occupancy (-19.3% to 61.2%) and RevPAR (-25.3% to $69.99) largely due to the elevated demand that followed Hurricane Beryl in 2024. Analyst Patrick Scholes of Truist Securities said the data shows continuing bifurcation with luxury RevPAR up 4%, upper upscale up 1.5% and economy off 4%.

Airbnb forecasts weaker growth. Airbnb forecast weaker growth for the rest of the year, with the company blaming the trend on tough comparisons year-over-year as part of its second-quarter earnings. The vacation rental company saw a recovery in U.S. travel demand during the second quarter after an initial slowdown in April. However, it expects bookings growth to moderate YOY going into the fourth quarter. Analyst Colin Sebastien of R.W. Baird said the near-term narrative of decelerating growth and margin compression will likely remain an overhang. “More fundamentally, we continue to expect Airbnb to gain market share in core bookings, build adjacent revenue streams… and benefit from the capital-light online marketplace model.”

Apple Hospitality earnings. Richmond, Virginia-based Apple Hospitality REIT reported a comparable RevPAR decline of 1.7% year-over-year as part of its second-quarter earnings. CEO Justin Knight said the decline was driven primarily by occupancy and said the same metric for July was up approximately 1% YOY. “During the quarter, we worked with our management companies to further optimize the mix of business at our hotels and were able to strengthen market share broadly across our portfolio as well as our position in markets more heavily impacted by demand shifts related to government travel,” he said.  The REIT currently has three hotels under contract for sale: the Houston Marriott Energy Corridor in Texas for $16 million and the dual-branded 86-key Hampton Inn & Suites Clovis-Airport North and the 83-key Homewood Suites Fresno Airport/Clovis in Clovis, California, for $20.3 million. In Q2, Apple acquired the 126-key Homewood Suites by Hilton Tampa-Brandon for approximately $18.8 million. Analyst Michael Bellisario of R.W. Baird said the REIT’s full-year RevPAR guidance was cut 50 basis points. “The company continues to sell hotels… and recycle proceeds into buybacks,” he said.

Raines adds in Georgia. Florence, South Carolina-based Raines has added the 105-key Home2 Suites by Hilton Charlotte University Research Park in Charlotte to its management portfolio.

Club Med adds in Indonesia. Club Med is partnering with PT Grahatama Kreasibaru on a hotel management agreement for the 250-key Club Med Manado in North Sulawesi, Indonesia. The Club Med Manado is set to be its third resort in this region, following the Club Med Bali, established in 1984, and Club Med Bintan, which was established in 1997 and is now scheduled for renovations. Club Med Manado is expected to open in 2028.

Rebrand in Connecticut. Alpharetta, Georgia-based Atrium Hospitality has rebranded the Hilton Stamford Hotel & Executive Meeting Center into the DoubleTree by Hilton Stamford. The 484-key hotel has undergone renovations throughout and plans a refresh of rooms later this year.

IHG adds in Australia. IHG Hotels & Resorts and Felix Capital are developing the 180-key Crowne Plaza Maroochydore in Maroochydore, Australia. The project has been reimagined from a previous concept for voco Maroochydore. Construction is expected to begin in 2026 and is scheduled to open in 2028. 

Macau hotel rebrand. Hong Kong-based Melco Resorts & Entertainment is renovating its Countdown Hotel at City of Dreams Macau into a luxury all-suite tower, with renovations expected to be completed by the third quarter of 2026, according to Inside Asian Gaming. The project will see the hotel’s current 330 rooms converted into 150 suites and the hotel will be rebranded. The hotel has been closed for renovations since 2021.