You can’t see, but right now the whole team at Phoenix is grinning from ear to ear. Why’s that? Well, the other day we received some incredibly promising news, and today we want to pass it on to you.
Hotel occupancy in the U.S. has recovered all the way back up to around mid-50%, which means we’re closer than ever to reaching 2019, pre-COVID levels! In fact, Los Angeles has already matched its stats for the comparable week in 2019. And revenue is no different—according to a weekly report from data provider STR, we’re only 9.2% away from pre-COVID levels of revenue per available room (RevPAR). For more details, check out the full report here.
Our segment is Premium Business Select Hotels. It should be clear by now that hotels are coming back, and that’s a trend that we don’t think is slowing down any time soon. We believe now is the best time to “strike while the iron is hot,” buying premier, name-brand Business Select Hotels. Our pipeline of acquisitions remains at depressed levels. We may be just in time for the industry (and thus the cash flow we use to pay our monthly dividends) to rebound fully, along with our hotels’ valuations (and thus the profits we will share if we sell them).
An investment in PAH means potential for monthly distributions (from cash flows), plus growth (assuming we sell the hotels at a profit). To learn more, please visit our offering page. There, you can also find a link to our U.S. Securities and Exchange Commission-qualified Offering Circular.