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 •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.