• STR updates forecast

The US hotel industry will see 2010 occupancy increase by 5.3% to 57.4%, average daily rate end the year with a 0.1% decrease to $97.92, and revpar projected to rise 5.2% to $56.23.

"2010 has been a better year than anyone expected in January," said Mark Lomanno, president of STR. "Demand has been a pleasant surprise, and it really is the driver behind the kind of year we’ve experienced. With that said, hoteliers need to take advantage of the pricing power they’ve been given because of the increased demand. Our forecast reflects that there will be a movement toward increased rates in 2011."

See the full release here:  http://www.strglobal.com//

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