NASHVILLE – Continued modest growth is projected for the U.S. hotel industry through 2018, according to STR and Tourism Economics' latest forecast released on Thursdaymorning at the 2017 Hotel Data Conference.

"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."

Source: STRSource: STR
Source: STR

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.

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.

Jeff Higley (STR)
VP, Digital Media & Communications
+1 (615) 824-8664 ext. 3318
STR