The U.S. hotel industry is expected to report smaller increases in three key performance metrics for year-end 2012 than previously forecasted, according to Smith Travel Research’s latest industry forecast.
The company's revised 2012 forecast includes a 0.2 percent increase in occupancy to 60 percent, a 3.7 percent jump in average daily rate to $105.29; and a 3.9 percent rise in revenue per available room to $63.18. STR also predicts that 2012 year-over-year demand will increase 1.1 percent and supply will rise just 0.9 percent.
The U.S. hotel industry is expected to end 2011 with a 4 percent occupancy increase to 59.9 percent, a 3.6 percent increase in average daily rate to $101.58, and a 7.7 percent increase in RevPAR to $60.81. Supply in 2011 is forecasted to rise a mere 0.7 percent, while demand is expected to end the year with a 4.7 percent spike. The change in the forecast is a result of the continuing global economic uncertainty and the tougher year-over-year comparisons the industry will face in 2012.
Courtesy of hotelsmag.com
