Despite news that will likely influence the short-term economic
performance of the U.S. economy, PKF Hospitality Research affirms its
strong forecasts of RevPAR growth for the nation’s lodging industry.
According to the recently released June 2012 edition of its hotel
forecast, Hotel Horizons, PKF-HR is projecting RevPAR for U.S.
hotels will increase by 5.8 percent in 2012, and another 6.6 percent in
2013. These forecasts are identical to the RevPAR forecasts presented
in the March 2012 edition of Hotel Horizons.
“Given the headlines of late, I understand why our clients are concerned
about the future health of the economy and the U.S. lodging industry.
However, the fundamental questions should focus on how many of these
headlines were a surprise,” said R. Mark Woodworth, president of PKF-HR.
“Sluggish job growth and economic chaos in Europe have been in the news
for a while, and despite these conditions, the performance of the U.S.
lodging market during the first quarter of 2012 was just as strong as we
had forecast," he continued. "Therefore, we see no reason to change our
opinion regarding the remainder of the year.”
The 2012 annual RevPAR growth forecast of 5.8 percent is the result of a
projected 1.6 percent increase in occupancy and a 4.1 percent gain in
average daily rate (ADR).