The Baird-STR Hotel Stock Index declined by 3% in June, underperforming both the S&P 500 and RMZ indexes, which were both up 2.2% for the month.

CMBS hotel loans weigh on industry recovery as delinquencies decline but more borrowers are seeking workouts for their debt.

Including temporarily closed hotels, weekly U.S. hotel occupancy was 63%, the highest since the start of the pandemic in March 2020, and weekend occupancy also set a pandemic-era record at 75%.

Shareholders approve Extended Stay America sale to Blackstone and Starwood Capital for $20.50 per paired share. The transaction includes the Extended Stay America brand, management operations and its owned hotel portfolio, which at the close of 2020 comprised 563 properties. The deal is scheduled to close on June 16.

The Baird-STR Hotel Stock Index — comprising 20 of the largest hotel companies publicly traded on a U.S. stock exchange by market capitalization — was down 2.8% from April to May, underperforming the S&P 500 which grew by 0.5% for the month. Year to date as of May 28, the hotel stock index value has grown 12.8%.

Projections show roughly 0.5% supply growth compared to the long-term average of about 2%. The average time it takes the industry to grow from its low supply pace back to its long term average is about five years.

Hospitality jobs are rising but are still lower than a year ago. On the job site Indeed, hospitality and tourism job postings were 6.7% lower as of May 14 than on Feb. 1, 2020.

Year to date, U.S. hotels have sold an average of 56,000 group rooms per night, compared to 246,000 group rooms per night in 2019.

Visits to airports, hotels and theaters in less vaccinated states had recovered in April to 71.2% of pre-pandemic levels versus 52.7% in more vaccinated states.

At Airbnb, the length of stay is increasing. In 2019 at this period of time, 14% of bookings were longer than 28 days. Now, 24% of Airbnb nights are longer than 28 days.