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STR and Tourism Economics Report Modest Upgrade to First U.S. Hotel Forecast of 2023

January 24, 2023

STR and Tourism Economics made a modest upgrade to the 2023 U.S. hotel forecast just released at the Americas Lodging Investment Summit (ALIS). Additionally, a subsequent downward adjustment was made for 2024.

The occupancy projection for this year was lower than the previous forecast by 0.1% while projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 0.5% and 0.3%, respectively. For 2024, a 0.3% downgrade in occupancy coupled with a 0.1% lift in ADR meant a RevPAR downgrade of 0.4%.

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