Penn State Index of U.S. Hotel Values
Penn State Index of U.S. Hotel Values
The Penn State Index of U.S. Hotel Values is an index produced by the Hospitality Real Estate Strategy Group that projects hotel values for the overall U.S. and for the specific hotel property types of Luxury, Upper Upscale, Upscale, Upper Midscale, Midscale and Economy hotels.
The Index uses an econometric model developed by Dr. John W. O'Neill, MAI, CHE, Ph.D., to project future hotel values in the United States. The Index projects hotel values for the overall U.S. and for the specific hotel property types of Luxury, Upper Upscale, Upscale, Upper Midscale, Midscale and Economy hotels. The Index was originally developed by Dr. O'Neill at Penn State in 2002 and has been updated on a quarterly basis since then.
Current Index |
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Value |
Annual |
Overall |
Per Room |
% Change |
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2019 |
$138,262 |
2.4% |
|
2020 |
$86,638 |
-37.3% |
|
2021 |
$104,544 |
20.7% |
|
2022 |
$154,326 |
47.6% |
|
2023 |
$163,580 |
6.0% |
Luxury |
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2019 |
$426,539 |
3.0% |
|
2020 |
$369,168 |
-13.5% |
|
2021 |
$380,845 |
3.2% |
|
2022 |
$537,598 |
41.2% |
|
2023 |
$566,928 |
5.5% |
Upper Upscale |
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|
|
2019 |
$222,790 |
3.4% |
|
2020 |
$157,987 |
-29.1% |
|
2021 |
$162,577 |
2.9% |
|
2022 |
$245,951 |
51.3% |
|
2023 |
$262,716 |
6.8% |
Upscale |
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|
2019 |
$158,633 |
1.9% |
|
2020 |
$108,317 |
-31.7% |
|
2021 |
$126,870 |
17.1% |
|
2022 |
$159,334 |
25.6% |
|
2023 |
$169,678 |
6.5% |
Upper Midscale |
|
|
|
2019 |
$116,087 |
2.0% |
|
2020 |
$75,840 |
-34.7% |
|
2021 |
$87,474 |
15.3% |
|
2022 |
$126,890 |
45.1% |
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2023 |
$133,171 |
4.9% |
Midscale |
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|
2019 |
$74,230 |
1.4% |
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2020 |
$51,346 |
-30.8% |
|
2021 |
$62,405 |
21.5% |
|
2022 |
$85,696 |
37.3% |
|
2023 |
$88,441 |
3.2% |
Economy |
|
|
|
2019 |
$43,591 |
2.5% |
|
2020 |
$27,174 |
-37.7% |
|
2021 |
$35,311 |
29.9% |
|
2022 |
$54,116 |
53.4% |
|
2023 |
$56,191 |
3.7% |
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Source: |
The Pennsylvania State University |
