Source: Hotel News Resource
By Hotel News Resource
August 15, 2019
Performance growth projections for the U.S. hotel industry have been downgraded to 1.6% for 2019 and 1.1% for 2020, according to STR and Tourism Economics’ latest forecast just released at the 11th annual Hotel Data Conference.
The previous version of the U.S. hotel forecast released in June called for growth in revenue per available room (RevPAR) of 2.0% and 1.9%, respectively. With occupancy at nearly flat levels, average daily rate (ADR) has been the sole driver of RevPAR, the industry standard performance metric.