STR maintains U.S. hotel forecast 2024 projections

For 2024, growth in ADR was raised by 0.1 percentage points, while occupancy and RevPAR were unchanged from the previous forecast

Jan 23, 2024

STR and Tourism Economics ​made minimal adjustments to growth projections in the first U.S. hotel forecast of 2024 just released at the Americas Lodging Investment Summit (ALIS).

Key takeaways

  • For 2025, growth projections for each of the key performance metrics were downgraded due to the long-term, average trends beginning to stabilize: occupancy (-0.1 ppts), ADR (-0.3 ppts) and RevPAR (-0.5 ppts);
  • The economic outlook has improved, but we still expect a deceleration in economic growth, characterized by softer labor markets and business sector caution;
  • Modest lodging demand growth will be supported by household prioritization of travel, a continued rebuilding of business travel and group events, and a rebound in international visitation.

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