STR, TE Update 2023 U.S. Hotel Forecast ADR and RevPAR Projections
NEW YORK—STR and Tourism Economics upgraded the 2023 U.S. hotel forecast at the 45th Annual NYU International Hospitality Industry Investment Conference. While top-line performance advances, growing operating expenses are projected to limit profit growth over the remainder of the year. The occupancy projection for this year was lowered 0.2 percent from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5 percent and 1.3 percent, respectively. […]
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