Strong Group Demand Boosts Hotel Outlook After Softer Summer

As the U.S. moves into the fourth and final quarter of 2023, the long promised economic recession has still not arrived for the U.S. economy and there are still optimistic signs for hoteliers, according to STR's Vice President of Analytics Isaac Collazo.

In the latest episode of the Hotel News Now podcast network's "Tell Me More, A Hospitality Data Podcast," Collazo said early September has looked better than expected.

"We had kind of a soft summer ... not much softer, but softer than what we saw last year, but what we're seeing in September is really strengthening group, just like we expected," he said. "We are seeing group business much stronger, even with the religious observances happening in the month. We're still seeing very solid growth."