STR lifts U.S. ADR and RevPAR forecast

While top-line performance advances, growing operating expenses are projected to limit profit growth over the remainder of the year

Jun 6, 2023

The occupancy projection for this year was lowered 0.2% from the previous forecast, but projections for average daily rate (ADR) and revenue per available room (RevPAR) were lifted 1.5% and 1.3%, respectively. For 2024, a 1.4% downgrade in occupancy coupled with a 0.7% lift in ADR meant a RevPAR downgrade of 0.6%.

Key takeaways

  • RevPAR, the key top-line performance metric, was fully recovered in 2022 on a nominal basis but will not achieve that status when adjusted for inflation (real) until 2025;
  • Gross operating profit per available room (GOPPAR) was also recovered in 2022 with limited growth forecasted for 2023 and more sizable gains projected in 2024;
  • The GOPPAR projection for this year was lowered 2.7% from the previous forecast and downgraded 4.0% for 2024.

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