Lodging RevPAR is still hovering around 2019 levels and 3Q21 came in last week at -0.6% vs 2019. Cities with high exposure to business travel and group business travel lag the overall improvement in RevPAR, with San Francisco -53%, New York -42%, and Boston -41%, whereas the average of the Top 25 markets saw a decrease of -13% vs 2019 in 3Q as of last week.
Leisure continues to lead growth with Resort markets now +20% while Economy is at +12%.
