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Continued Growth in RevPAR and ADR Expected for Hotels in U.S.

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The U.S. hotel industry is expected to continue to report performance increases in the remainder of 2014 and in 2015, according to STR and Tourism Economics’ most recent forecast.

In 2014, the U.S. hotel industry is predicted to report a 1.4% increase in occupancy to 63.1%, a 4.2% rise in ADR to US$115.00 and a 5.7% gain in RevPAR to US$72.55.

"Overall our forecast is very positive for the next two years, and we expect robust growth,” said Amanda Hite, COO and president of STR, while presenting at the NYU International Hospitality Industry Investment Conference on Monday. "Supply growth is accelerating but it's nothing to worry about at this point.”

Demand in the U.S. is forecasted to increase 2.6%, while supply is predicted to grow by 1.2%.

In 2015, STR and Tourism Economics predict occupancy to rise 0.6% to 63.5%, ADR to increase 4.3% to US$119.93 and RevPAR to grow 4.9% to US$76.13. Demand is expected to increase 2.2%, and supply is predicted to increase 1.6% in 2015.

 “We will see good group rate increases in 2015 and 2016 because those negotiations are taking place today," Hite added.

See other recent news regarding: Interviews, Pictures, Videos, STR, RevPAR, ADR

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