• US to see 4.2% 2011 rate rise

US hotels will see occupancy increase by 1.8% to 58.5% this year, with rate up 4.2% to $102.21, and revpar rising 6.1% to $59.78, according to STR.

The company forecast that next year would see occupancy rise 1.7% to 59.5%, ADR increase 6.8% to $109.16 and revpar end the year up 8.6% to $64.93. Mark Lomanno, CEO of STR, said: "While it may be the second half of 2011 before we begin to see rapidly accelerating room rates, by the time we get to 2012 we now expect room rate growth to rival the boom years of 2006 and 2007."

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

Share →