Tuesday, May 23, 2017

After Strong First Quarter, CBRE Forecasts Eighth Consecutive Year of Occupancy Growth for U.S. Hotels

R. Mark Woodworth
Atlanta, GA, May 23, 2017 – The U.S. lodging industry started 2017 on a strong note.  During the first quarter of 2017, hotel demand increased by 2.8 percent.  

The result was an occupancy of 61.1 percent, the highest first quarter occupancy rate reported by STR in the past 30 years.

 “Since bottoming out in the fourth quarter of 2009, U.S. lodging demand now has grown for 29 consecutive quarters, and led to the record occupancy levels we currently are observing,” said R. Mark Woodworth, senior managing director of CBRE Hotels’ Americas Research (CBRE).

 “We realize that favorable prior year comparisons contributed to the strong growth in first quarter demand, and that pace cannot be sustained through the rest of 2017. 

“However, given the positive economic outlook for the remainder of the year, we are projecting demand to outpace supply once again in 2017, thus resulting in an eighth successive year of occupancy growth for the U.S. lodging industry.”

For a complete copy of the company’s news release, please contact:

Chris Daly
Daly Gray Public Relations
703 435 6293

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