STR's Final 2020 U.S. Hotel Forecast Adjusted Slightly Upward
New U.S. hotel industry forecasts from both STR and HVS anticipate that the full-year occupancy level will end the year at around 42 percent, according to information presented by the companies at Thursday's New York University International Hospitality Industry Investment Conference.
New U.S. hotel industry forecasts from both STR and HVS anticipate that the full-year occupancy level will end the year at around 42 percent, according to information presented by the companies at Thursday's New York University International Hospitality Industry Investment Conference.
HVS predicts average 2020 daily rate to come in at $105, while STR's number is $103.65, representing year-over-year declines of 20.3 percent and 21 percent, respectively. Both companies anticipate revenue per available room to drop about 49.5 percent to $44. The numbers take total room occupancy into account, which includes temporary hotel closures.
STR, which released its forecast with Tourism Economics, adjusted its 2020 forecast slightly up from its August figures, which had projected year-end occupancy at 39.8 percent and RevPAR at $41.31. ADR changed only slightly from $103.71. Its 2021 forecast remained relatively the same, and it noted that RevPAR still would not fully recover until 2024.