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| R. Mark Woodworth |
Atlanta, GA, March
16, 2015 – The U.S. lodging industry will continue to achieve very strong
growth in rooms revenue per available room (RevPAR) during both 2015 and 2016
according to the recently released March 2015 edition of PKF Hospitality
Research’s (PKF-HR) Hotel Horizons® (PKF-HR is a CBRE company).
The report further predicts that the composition of the
factors driving the RevPAR is starting to shift with record-setting occupancy
yielding ground to growing average daily rates (ADR).
“In 2015, RevPAR
growth will be achieved by healthy increases in both occupancy and ADR, similar
to the pattern we have seen since 2011,” said R. Mark Woodworth, senior managing director of PKF-HR.
“However, beginning in 2016, we are forecasting
that ADR gains will be the dominant, if not sole, driver of RevPAR growth
through 2019.”
For 2015, PKF-HR is
forecasting a 1.9 percent increase in occupancy, combined with a 5.3 percent
rise in ADR, for a 7.3 percent boost to RevPAR.
In 2016, the increase in occupancy is projected to slow down to just 0.6
percent, but the pace of ADR growth is forecast to improve to 6.3 percent. The net result will be a 6.5 percent gain in
RevPAR next year.
“The 65.6 percent
occupancy level we are forecasting for 2015 is an all-time record for the 27
years STR, Inc. has been reporting U.S. lodging industry performance. At such lofty levels, it is natural that the
pace of occupancy growth will slow down, and we will start to see prices take
off,” said Woodworth.
For a complete copy
of the company’s news release, please contact:
R. Mark
Woodworth
Chris Daly
PKF Hospitality Research,
a CBRE Company Daly
Gray Public Relations
Tel: 404 842 1150, ext.
222 Tel:
703 435 6293
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