Luxury and upper-upscale properties have lagged due to their dependence on individual company and group demand. Many may not see a RevPAR restoration until the top of 2023 across sixty five of the most important U.S. markets. At the tip of the spectrum, the leisure-centric destinations of Savannah, Miami, St. Petersburg and the Coachella Valley in California are forecast to exceed their 2019 RevPAR ranges by greater than 20% in 2023. Many mid-size and upscale hotel corporations are firming up investments and capacity expansion plans to the tune of Rs 3,500 crore in key holy towns in the subsequent two…
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