US Hotel Metrics Set to Continue Rise in 2018 and 2019
The US hotel industry is projected to exceed earlier forecasts and continue on its record-setting performance run through 2019, according to the latest revised forecast from STR and Tourism Economics.
For all of 2018, occupancy is projected to rise 0.6 percent to 66.3 percent, pushing the average daily rate up 2.6 percent to $129.85 and RevPAR up 3.2 percent to $86.09. STR notes that RevPAR has grown at least 3.0 percent for each year since 2010. The Luxury chain scale segment is likely to report the largest increases in occupancy, ADR and RevPAR for 2018, while the lowest rate of RevPAR growth is projected in the Upscale segment.
For 2019, the industry is projected to report a 0.2 percent increase in occupancy, a 2.4 percent lift in ADR and a 2.6 percent rise in RevPAR. The highest overall rate of RevPAR growth in the coming year is expected in the Independent segment.