PKF Predicts Increases in Revenues, Profits for 2014
Thursday June 13th, 2013 - 9:48AM X
| | | | | | | | | | |
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
ATLANTA—PKF Hospitality Research, LLC, is projecting that U.S. hotels will have a 7.7% increase in RevPAR in 2014, as well as a 15.4% boost in NOI.
PKF-HR predicts a 3.3% growth in lodging demand in 2014, along with an increase in supply of 1.0%. The net result is a national occupancy level of 63.8%, the highest annual occupancy rate since 1997.
From 2014 through 2016, PKF-HR is forecasting annual ADR growth rates from 5.4%-6.4%.
Supply growth is estimated to be 1.0% or less in 27 markets; 33 markets are predicted to achieve occupancy levels at or above their pre-recession peak levels; and two markets are projected to suffer a decline in demand, while five markets are forecast to experience a decline in occupancy.
In addition, 39 markets are predicted to achieve ADR levels at or above their nominal pre-recession peak; 17 markets are projected to see ADR grow by 6.0% or more; and 20 markets are forecast to see RevPAR growth greater than 7.0%.
Tags: • Hospitality • Quarterly Results •
The theme of this year’s ALIS conference was “Don’t Worry, Be Happy.” But, lets face it, there are always going to be some people who aren’t happy unless they are worried about something—whether it’s the Fed potentially raising interest rates or that the price of oil is now too low, threatening to cripple the economies of some foreign nations.