August softened compared to 2024 – Occupancy down 9.3%, ADR down 6.2%
September started slow – Pacing 8.5% behind last year
October is looking promising – Occupancy pacing 11.1% ahead, ADR up 2.9%
Guest behavior is shifting – People are still traveling, but waiting longer to book and prioritizing price
Midweek flexibility matters – Adjusting rates midweek helps capture hesitant, short-lead bookers
Shoulder season momentum is growing – October’s early strength shows fall is becoming a go-to time for leisure travel
As we wrapped up August and look ahead to October, the travel landscape is showing signs of a shift. It is not a slowdown, but rather a change in traveler behavior. Here’s what we’re seeing across the independent hospitality space.
August closed on a more tempered note compared to 2024. Year over year:
So, what is behind the shift? Travelers are behaving more cautiously. Many are waiting longer to book and are showing greater sensitivity to price. They are choosing shorter getaways and mid-tier rooms instead of premium upgrades.
Still, demand did not disappear.
Even with slightly lower rates, the fact that bookings held steady shows that people still want to travel. They are simply more selective in how they spend.
September is pacing behind last year in its early days:
This is not unexpected. September tends to be a slower-build month, especially for independent and lifestyle properties. The first half is typically quieter, with bookings picking up closer to the stay date.
Here is what we are noticing:
October is off to a strong start, with early signs pointing to a positive month:
This early boost appears to be driven by several positive trends:
Although most October bookings are still to come, this kind of head start is a good sign.
Guests are still booking, but they are taking more time and reacting more sharply to pricing. Nationally, RevPAR is expected to decline slightly in 2025. Slower job growth and a dip in consumer confidence are making travelers more selective. As the economy enters a more cautious phase, we are seeing a shift toward value-focused decisions.
August weekends continued to perform well. Even as rates softened, many properties saw meaningful pickup in the final days of each week. The desire to travel is still there, especially for quick weekend escapes.
Midweek rate flexibility is helping capture short-lead bookings. This is becoming a crucial tool during periods when travelers hesitate or wait longer to commit.
October’s pacing gains suggest that more travelers are embracing the shoulder season. As September and October become more popular travel windows, properties that stay nimble with pricing are well positioned to benefit.
We are not seeing a lack of interest in travel. We are seeing a shift in how and when guests are booking. With more focus on value, shorter planning windows, and careful spending, properties that stay responsive to these changes can still capture meaningful demand in the months ahead.
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