5 insights into the 2020 forecast for US hotels
The odds of the U.S. economy entering a recession in 2020 have fallen to around one in four, according to Tourism Economics President Adam Sacks, but an inevitable slowdown in economic growth is a reality that the travel and hotel industries will have to live with for the foreseeable future.
Jan Freitag, SVP of lodging insights at STR, summarized the state of growth for the U.S. hotel industry: "Flat is the new up."
Speaking during a recent webinar on the "U.S. economy and hotel industry 2020 outlook," Sacks and Freitag offered guidance and color on a new STR and Tourism Economics forecast, released last week at the Americas Lodging Investment Summit, that calls for zero year-over-year change in U.S. hotel revenue per available room, as a result of slightly negative change in hotel occupancy and weak pricing power. (STR is the parent company of Hotel News Now.)
