Lodging demand will return to pre-crisis levels in the third quarter of 2022, according to new research from CBRE, the real estate consultancy. The industry will see a relatively rapid economic turnaround in 2021 and 2022, according to the June 2020 edition of CBRE’s Hotel Horizons forecast report. While demand will return to pre-crisis levels by the third quarter of 2022, said the forecast, a lag in average daily rate growth will stall the recovery in revenue per available room (RevPAR) until 2023. Jamie Lane, senior director of CBRE Hotels Research, said the contraction in overall economic activity and the need for social distancing will result in a 37% reduction in the number of room nights occupied in 2020, compared with 2019. “There is some comfort,” he said, “knowing that travelers will be back on the road in full force within two years.” Hotels oriented toward group meetings, said Lane, will likely lag in recovery as meeting attendees get reacclimated to being close to larger numbers of people.