U.S. Hotel Demand Expected to Rise 3%
U.S. hotel room demand will rise 3% this year, after the worst drop in three decades in 2001, helped by the economy and lack of new hotels being built, PricewaterhouseCoopers said.
Hotel occupancy will rise 1.2% to 61.3%, and the average daily rate will rise 1%, resulting in an increase in revenue per available room to $52.53, from $51 last year, the firm said.
The report represents a reversal from the firm’s December forecast that revenue per room would fall 0.2% on declines in both room rates and occupancy.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
