STR, TE Forecast: Modest growth to continue for U.S. hotels
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.
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."
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.
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