STR Updates 2011, 2012 Forecasts

Travel News Asia Latest Travel News Podcasts Videos Tuesday, 15 November 2011

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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