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STR Updates 2011, 2012 Forecasts

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STR has updated its industry forecast for the U.S. hotel industry which now shows smaller increases in all three key performance metrics for year-end 2012. STR's revised 2012 forecast includes:

- a 0.2% increase in occupancy to 60%;
- a 3.7% jump in ADR to US$105.29; and
- a 3.9% rise in RevPAR to US$63.18.

STR also predicts that 2012 year-over-year demand will increase 1.1% and supply will rise 0.9%.

STR now expects the U.S. hotel industry to end 2011 with a 4% occupancy increase to 59.9%, a 3.6% increase in ADR to US$101.58, and a 7.7% increase in RevPAR to US$60.81. Supply in 2011 is forecast to rise slightly (0.7%) and demand is expected to end the year with a 4.7% increase.

"While we are still confident industry performance will remain positive during 2012, we are concerned about the lack of growth in the overall macro-economic indicators," said Amanda Hite, president of STR. "In addition, the stronger-than-expected demand growth for hotels this year will make for difficult year-over-year comparisons in 2012. Our revised forecast reflects an industry posting record levels of demand, operating in an environment where the economic fundamentals cannot be ignored."

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