The latest U.S. hotel forecast from STR and Tourism Economics projects a 57.5% decline in revenue per available room (RevPAR) in 2020, then a 48.0% increase in the metric in 2021.
Each percentage change was downgraded from a late-March forecast revision, which called for a 2020 RevPAR decrease of 50.6% followed by a 2021 increase of 63.1%.
“Performance levels are dismal from every angle, but at the very least, weekly data through May 9 indicates that the industry has already hit bottom and begun a steady ascent,” said Amanda Hite, STR president.
