Morgan Stanley Hotel RevPAR Surge Boosted by Easter

Morgan Stanley's Global Hotel Weekly RevPAR tracker showed US RevPAR up 14.6% YoY for the week ending April 18, 2026, versus 0.4% the prior week.
Europe RevPAR rose 6.2% YoY and UK RevPAR increased 6.0%, while China slipped 0.5% and Japan surged 17.0% in the same week.
Four‑week rolling RevPAR figures show US 4.5% growth, Europe –3.7%, UK –2.2%, China 4.1%, and Japan 21.5% versus Q1 trends.
Growth is attributed to easier Easter comparisons, as Easter fell later last year, reducing the negative impact on business travel.