HENDERSONVILLE, Tennessee—STR and Tourism Economics lifted year-over-year growth projections for average daily rate (ADR) and revenue per available room (RevPAR) in the final U.S. hotel forecast revision of 2023. For 2023, growth in RevPAR was raised by 0.3 percentage points, due to a 0.6 percentage point lift in ADR growth. Recent RevPAR trends demonstrate that rate continues to be the primary driver of performance. Occupancy was downgraded slightly (by 0.2 percentage points). For 2024, the […]

The post STR, TE Lift ADR and RevPAR Predictions in Final U.S. Hotel Forecast Revision of 2023 appeared first on LODGING Magazine.

This post was originally published on this site