STR, TE Downgrade U.S. Hotel Forecast in Final Revision of 2024
NASHVILLE—STR and Tourism Economics downgraded the growth rate in the final U.S. hotel forecast revision of 2024. For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 percentage points to +1.5 percent and down 0.6 ppts to +1.4 percent, respectively. Occupancy for the year was lowered 0.1 percentage point to 62.9 percent, after the previous forecast projected the metric to remain steady from 2023. For 2025, […]
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