STR and Tourism Economics revised the final U.S. hotel forecast for 2024, lowering projected ADR and RevPAR growth due to economic uncertainties.
NASHVILLE – STR and Tourism Economics downgraded the growth rate in the final U.S. hotel forecast revision of 2024.
For 2024, projected gains in average daily rate (ADR) and revenue per available room (RevPAR) were each downgraded, -0.5 percentage points to +1.5% and -0.6 ppts to +1.4%, respectively. Occupancy for the year was lowered 0.1 ppts to 62.9%, after the previous forecast projected the metric to remain steady from 2023. For 2025, the occupancy growth projection was downgraded 0.4 ppts, and the forecast for ADR…
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