STR and Tourism Economics adjusted occupancy downward but lifted projections once again for average daily rate (ADR) in the revised U.S. hotel forecast just presented at the 14th Annual Hotel Data Conference. Revenue per available room (RevPAR) remains on track for full recovery this year on a nominal basis but not until 2025 when adjusted for inflation.
The updated forecast adds a little more than $2 to the ADR projection for both 2022 and 2023. Occupancy was lowered by less than a percentage point for each year.
