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| R. Mark Woodworth |
Atlanta, GA– All segments of the U.S. lodging industry will
enjoy strong performance for the foreseeable future according to the recently
released December 2014 edition of PKF Hospitality Research’s (PKF-HR) Hotel
Horizons® (PKF-HR is a CBRE company).
Rising levels of employment, combined with increased
geographic expansion of the national economic recovery, will result in revenue
per available room (RevPAR) growth in excess of long-run averages for all hotel
chain-scales, most location categories and the vast majority of markets from
2014 through 2017.
“No matter what hotel performance indicator you look at for
any type of hotel, we foresee extremely favorable movements the next few
years,” said R. Mark Woodworth, president of PKF-HR.
“Our firm is projecting demand growth to outpace changes in
supply in the U.S. through 2016. That
will result in industry wide occupancy levels at, or above, all-time record
levels through 2017.
“With scarcity now a
reality for consumers in many markets for a growing number of property types,
hotel operators will have the leverage they need to drive room rates well above
the pace of inflation,” Woodworth added.
“Real average daily room rate (ADR) growth driving RevPAR
will contribute to a six year period of double-digit increases in hotel
profits; something we have not seen in the 78 years PKF has been tracking the
U.S. lodging industry.”
The December 2014 Hotel
Horizons® report forecasts ADR to increase by an annual average of 5.4 percent
from 2014 through 2017.
In turn, PKF-HR
is forecasting unit-level net operating income to increase at an average annual
rate of 11.8 percent during this same period.
For a complete copy of the company’s news release, please
contact:
R. Mark Woodworth
PKF Hospitality Research
Tel: 404 842 1150, ext 222
Email: mark.woodworth@pkfc.com
Chris Daly
Daly Gray Public Relations
Tel: 703 435 6293
Email: chris@dalygray.com
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