U.S. airport security screenings were up, but hotel demand was down in the latest weekly data, particularly in the country’s largest markets and among hotels that typically rely on significant group and corporate business.
The decline in U.S. hotel performance is surprising, coming after two weeks of gains that indicated better-than-expected business travel. Normally, an uptick in air passengers yields an increase in hotel demand. This week was an exception with occupancy slipping 1.5 percentage points to 61.7%.
