US Hotel Demand will not return to 2019 levels until at least 2023, forecasters say

Last week US hotel occupancy continued to slowly climb up to 32%; and continued to closely follow China's trajectory, albeit 6 weeks behind; China is now at 43%.

STR and CBRE both released updates to their FY forecasts. STR expects a drop of nearly 60% in RevPAR for FY 2020, and does not see a return to 2019 levels until late 2024, driven by a drag in ADR.

For their part, CBRE's forecast puts 2020 FY RevPAR at -52%, and a return to 2019 levels a year earlier, by 2023.

Originally posted on LinkedIn:

https://www.linkedin.com/posts/andres-orta-travels_us-results-week-ending-may-16-activity-6669700510477533184-Qhxp

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HOSPITALITY BRAND

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