STR, TE Forecast: Modest growth to continue for U.S. hotels
"Demand growth exceeded forecasts during the second quarter, which falls in line with reports that tourism has surpassed expectations," said Amanda Hite, STR's president and CEO. "That led us to lift our RevPAR projections for total-year 2017 even with weaker-than-expected ADR growth. That lack of pricing power will be more of an issue in 2018 when occupancy is forecasted to decline. Regardless, industry performance should stay healthy with moderate rate growth pushing RevPAR levels to all-time highs."
An accuracy report from STR and Tourism Economics showed the companies' joint U.S. hotel forecast to be the most accurate among top industry prognosticators. To view the detailed accuracy assessment, please CLICK HERE.
Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.