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| R. Mark Woodworth |
Atlanta, GA, March 8, 2016
– The U.S. lodging industry is forecast to achieve another all-time record
occupancy level in 2016, but an increasing number of local markets are starting
to show the effects of growing competition.
According to the March to May 2016 edition of
Hotel Horizons®, CBRE Hotels’ Americas Research is projecting a year-end 2016
occupancy level of 65.7 percent, 20 basis points greater than the record level
of occupancy achieved in 2015.
“We always caution our
clients to pay closest attention to local market conditions, as opposed to
broad national trends,” said R. Mark
Woodworth, senior managing director of CBRE Hotels’ Americas Research.
“While the outlook for the overall U.S.
lodging industry is solid for the next few years, we acknowledge that a growing
number of local markets will begin to experience a decline in occupancy
levels. This is the result of the
emergence of new competition that heretofore has been kept under wraps.”
For a complete copy of the company’s news release,
please contact:
Robert McGrath
212 984 8267
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