Insider Monkey

30 Best Hotels in the U.S.

Ramish Cheema
Updated 9 min read

In this piece, we will take a look at the 30 best hotels in the U.S. For more hotels, head on over to 10 Best Hotels in the U.S.

The hospitality industry is one of the most lucrative sectors in the world, with flashy hotels providing guests with a taste of high end living sometimes at ludicrous prices. For instance, Italy's Rosewood Castiglion Del Bosco charges guests a whopping $2,000 a night per stay, so if you were to try living for a month there, you'd be out of a cool $60,000 - more than what a typical car costs in the U.S. However, this high price tag does not come without its perks, as the hotel is situated on top of an eight hundred year old estate in Tuscany and provides views of a world heritage site as well.

This same industry was dealt devastating blows by the coronavirus pandemic. As travel shuttered around the world, hotels were forced to cut down on their costs as revenue dried up. A research report from Deloitte takes a deeper look at the havoc wreaked by the virus. It reveals that occupancy rates in some hotels dropped from being higher than 80% before the pandemic to lower than 15% during the peak of lockdowns. Some of the worst hit folks were those who had recently opened up establishments and had yet to recoup their capital outlays before foot traffic completely dried up.

The lower occupancy rates also translate into economic hits. A research from Florida State University, University of Nevada, Boston University, University of Central Florida, and Texas A&M attempts to quantify the financial impact. It estimates that hotels in the U.S. suffered a painful $30 billion in revenue losses in just the two months between March and May 2020. It adds that revenue per available room (RevPAR), a commonly used profitability metric within the industry, dropped by a sharp 86% during the same time period, with the occupancy rate suffering from a 74% decline. The researchers also share that the hardest hit hotels were the large luxury brands, as the economical ones fared much better.

With the virus a thing of the past and life back to normal, it's time to take a look at the future. On this front, a research report from Transparency Market Research looks to estimate the value of the global hotel market. It believes that the industry will be worth $1.27 trillion by the end of 2031 by growing through a compounded annual growth rate (CAGR) of 8.1%. Aiding this growth is the rise in businesses in Asia Pacific which will stimulate demand for hotels throughout. The research firm adds that the number of growing trips by middle class households is also helping the hotel industry since higher purchasing powers leave more room for luxury spending. It also believes that hotels are customizing their experiences to serve individuals, to reflect a growing preference among millennials who are expected to be among the biggest spenders.

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