Lower-income Americans are dialing back on travel

STORY: :: Lower-income Americans are dialing back on travel

:: As wealthier Americans continue to travel,

lower-income travelers are booking fewer hotel stays

:: Reduced savings, higher credit card delinquencies

and inflation are weighing on household budgets

:: according to data from commercial

real estate analytics firm CoStar

:: Source: CoStar

:: U.S. room demand in April fell about 2.7% and

3.9% for mid-scale and economy hotels, respectively

:: CoStar downgraded its full year forecast

to account for slowing GDP and reduced demand

:: It’s now expecting average daily room rates will rise

2.1% this year compared to its previous forecast of 3.1%