PWC Report: Solid RevPAR Growth Expected for 2014
Monday May 19th, 2014 - 11:03AM 0
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NEW YORK—PWC has released its updated lodging outlook and is forecasting solid 6.5% RevPAR growth in 2014 driven by the continued recovery in the group segment.
According to Hospitality Directions U.S., in 2015, as supply growth accelerates, occupancy growth is expected to moderate to 1.3%. However, the study notes as many hotels more frequently reach occupancy constraints, pricing power is expected to accelerate, resulting in a solid 5.!% growth in average daily rates.
PWC's outlook for supply continues to anticipate 1.0% growth in 2014, accelerating to 1.3% in 2015, as construction of new hotels gathers momentum.
Tags: PWC • hospitality update • Hospitality • Personnel •
As we begin 2015, and what is expected to be a healthy year for the hotel industry with expansion, progress and innovation as key catalysts for growth, Hotel Business is right on board with that momentum, bringing you, with this issue, our own updated product.