Two More Record Years for US Hotel
STR and Tourism Economics project the U.S. hotel industry will see occupancy increase 0.3%, ADR increase 2.4% and RevPAR jump 2.7% in 2018 as demand continues to outpace supply. Both companies project similar growth in 2019 but a slimmer gap between demand growth and supply growth.
HENDERSONVILLE, Tennessee—The U.S. hotel industry is projected to post record-breaking performance levels through 2019, according to STR and Tourism Economics’ initial forecast of 2018 released this week at the Americas Lodging Investment Summit (ALIS).
 |
“After another record year in 2017, we’re looking at continued growth in 2018 fueled by strong underlying economic indicators and upgraded GDP forecasts,” said Carter Wilson, STR’s VP of consulting & analytics. “Coupled with moderating supply growth and a slight uptick in pricing power, the industry should see record fundamentals through 2019.”
2018
The U.S. hotel industry is projected to report a 0.3% increase in occupancy to 66.1%, a 2.4% rise in average daily rate (ADR) to US$129.77 and a 2.7% lift in revenue per available room (RevPAR) to US$85.82. RevPAR grew at least 3.0% for each year from 2010 to 2017.
The Luxury and Independent chain scale segments are now likely to report the largest increases in occupancy (+0.4%). Independent hotels are projected to post the most substantial growth in ADR (+2.5%) and RevPAR (+2.9%). The lowest rate of RevPAR growth is projected in the Upscale segment (+1.8%).
2019
For 2019, STR and Tourism Economics project the U.S. hotel industry to report a 0.1% increase in occupancy to 66.2%, a 2.3% lift in ADR to US$132.81 and a 2.4% rise in RevPAR to US$87.89.
The highest overall rate of RevPAR growth is expected in the Luxury segment (+2.4%), while the lowest is projected among Upscale (+1.9%) and Upper Midscale (+1.9%) chains.
North America Media Contacts:
Nick Minerd
Public Relations Manager
nminerd@str.com
+1 (615) 824-8664 ext. 3305
Haley Luther
Communications Associate
hluther@str.com
+1 (615) 824-8664 ext. 3500
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com.