• The national unemployment rate fell slightly to 4.5% in Q1, the lowest level since the Great Recession, according to the Bureau of Labor Statistics (BLS).

 

  • Responding to strengthening economic conditions, lodging demand grew by 2.8% year-over-year in Q1 compared with 2.3% in Q4 2016.

 

  • The national average daily supply of rooms grew by 1.9% in Q1 to 5.05 million.

 

  • Record occupancy produced only modest ADR gains, with rates increasing 2.5% year-over-year in Q1.