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New Forecast Downgrades U.S. Hotel Forecast

STR and Tourism Economics made significant downward adjustments to the 2024-25 U.S. hotel forecast just released. The latest revision reflects lower-than-expected performance thus far in 2024 as well as lessened growth projections for the remainder of the year. For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were downgraded to growth of 1.0% and 2.1%, respectively. Occupancy for the year is now expected to decline after the previous forecast projected year-over-year growth in the metric. Learn more about the industry forecast as we head into the second half of 2024, and connect with California’s top hotel executives, owners and managers at our Trends + Insights Conference on August 21 in Huntington Beach. More details to follow.