Resilient travel demand supports hotel expansion plans

The trend: Consumers are continuing to travel despite concerns about rising costs, and hotels are adding rooms and enhancing offerings to accommodate them.

Broad-based strength: Hotels and lodging companies had a strong Q4 and forecast growth would continue as consumers took more leisure trips, echoing an upbeat outlook from many airlines.

• Revenue per available room (revPAR), a measure of occupancy and average daily rate, rose 5% worldwide at Marriott International and 3.5% and 5% systemwide at Hilton Worldwide and Hyatt Hotels, respectively.