Summer forecast predicts performance increases
23 MAY 2014 8:26 AM
STR predicts occupancy for the summer will rise 1.8% to 71.2%; ADR will increase 4% to $116.44; and RevPAR will grow 5.8% to $82.90.
HENDERSONVILLE, Tennessee—The U.S. hotel industry is expected to report increases in performance results during summer 2014, according to STR’s summer forecast.
The summer season as defined by STR comprises June, July and August. When comparing against those three months combined in 2013, STR predicts occupancy for the summer will rise 1.8 percent to 71.2 percent; average daily rate will increase 4.0 percent to US$116.44; and revenue per available room will grow 5.8 percent to US$82.90.
“We continue to be pleasantly surprised by the strength of hotel demand through the first quarter and into April,” said Brad Garner, senior VP at STR. “We anticipate that strength to carry through the summer as pent-up demand for hotels should be significant as travelers look to erase the memory of polar vortexes and a brutal winter from their minds.”
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