CBRE: Lodging Industry Should Recover in 2023
DALLAS—CBRE is raising its forecasts of hotel performance for 2022 and beyond based on Q1 2022 strength, continued slowing of construction activity, higher inflation, and continued optimism about employment and economic growth. CBRE’s forecasts call for a full recovery in average daily rate (ADR) in 2022 and in demand and revenue per available room (RevPAR) in 2023. Despite headwinds from the Omicron COVID variant, Q1 RevPAR reached $72.20, up 61 percent from a year earlier. […]
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