CBRE Reduces U.S. Hotel Performance Forecast, Lodging Demand Softens
DALLAS, Texas—CBRE reduced its forecast for U.S. hotel performance this year as lodging demand softens due to weaker-than-expected leisure travel and slowing corporate profit growth. CBRE now projects a 1.2 percent increase in revenue per available room (RevPAR) growth for 2024, down from the 2.0 percent estimated in May 2024. Nevertheless, CBRE anticipates 2 percent year-over-year growth in RevPAR in the second half of 2024, up from 0.5 percent year-over-year growth in the first half, […]
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Extended Stay America Refreshes STAY Counted Program
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Extended Stay America Premier Suites opens in Virginia
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Fed cuts interest rates; Industry reacts
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