 |
| R. Mark Woodworth |
Atlanta, GA – U.S. hotel
occupancy will remain at record levels through 2017 according to PKF
Hospitality Research | CBRE Hotels (PKF-HR).
In the recently released December 2015 edition
of Hotel Horizons®, PKF-HR forecasts that the growth in demand for lodging
accommodations will exceed the change in supply during each of the next two
years.
The result will be a national
occupancy rate of roughly 66 percent in both 2016 and 2017.
“The fundamental characteristics
of the economy remain relatively unchanged, as the labor market continues to
improve and GDP growth remains steady if moderate,” said R. Mark Woodworth, senior managing director of PKF-HR.
“Accordingly, our forecasts for demand and
average daily rate (ADR) growth remain above the long-run average in both 2016
and 2017.
“We are not blind to
current events and realize that non-economic risks do exist given the current
international security environment.
However, these are events which we are unable to forecast. Based on what we do know and feel comfortable
forecasting, the probability of an economic downturn in U.S. hotel industry
performance remains remote,” Woodworth stated.
For a complete copy of the company’s news release,
please contact:
Patrick Daly
Office Manager
Daly Gray, Inc.
Office: (703) 435-6293
Cell: (703) 300-8289
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