JLL – With 70% of the U.S. adult population vaccinated with at least one dose as of August 2021, consumer confidence was strong in the first half of 2021. This resulted in continual demand from leisure travelers and the return of small, social groups, effectively lifting total demand during the summer months to levels exceeding 2019. However, overall group demand remains challenged, with hotel operators adjusting rates rapidly to capture the limited group demand in the market, which has underpinned the current fluctuations in group ADR at the upper midscale and midscale hotel level. Demand outlook remains optimistic through 2021 as corporate travel is anticipated to pick-up in the late fall, but a slight deceleration in performance is expected to deepen in the interim as the industry grapples with the rise in COVID-19 cases due to the delta variant.
Peachtree Hotel Group