During the week ending 6 August—the same week Congress reached an 11th-hour debt-ceiling compromise and the Dow dropped 500 points—revenue per available room still grew by 4.8%, according to HotelNewsNow.com’s parent company STR. The following week saw an identical gain, and the week ending 20 August posted a RevPAR increase of 7.6%. “Hotel demand lags the general economy six to nine months. When things start to get iffy or uncertain, there’s usually not an immediate translation in a decline in hotel demand,” said Joe Long, chief investment officer and executive VP of development for Kimpton Hotels & Restaurants. Kimpton hasn’t seen any noticeable drops in bookings during the past month, nor have they seen an uptick in cancellations. Get the full story at HotelNewsNow.com