Categorized | Hotels

HOTELS MAY SEE BETTER TIMES IN 2012…

Posted on 25 March 2010

Although most experts agree the hotel industry has another tough year ahead, U.S. hotels should enjoy double-digit revenue growth by 2012, according to the latest forecast from PKF Hospitality Research. PKF is forecasting revenue per available room to grow 10.5% in 2012. “The U.S. lodging industry has not seen double-digit growth in RevPAR since the inflationary days of the late 1970s and early 1980s,” said R. Mark Woodworth, president of PKF Hospitality Research.

 

The strong growth in RevPAR is driven by Moody’s Economy.com’s forecast for income and employment, Woodworth said. In 2012, Moody’s is projecting income to grow at a 4.4% pace, while growth for employment is projected for 3.2%, an all-time high since 1998, Until 2012, however, market conditions will remain relatively soft, PKF said. For 2010, PKF is forecasting a 1.1% decline in RevPAR, the third consecutive year of falling RevPAR for the U.S. lodging industry.

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