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| 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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