Hospitality directions US Q3: November 2009
Download Hospitality directions US Q3: November 2009
PwC's updated lodging forecast reflects performance during the initial stages of economic recovery and the continued expectation that lodging demand will begin to recover in 2010. As anticipated in our September forecast, the transition of the US economy from contraction to growth in the second half of 2009 provides a base for a gradual recovery in hotel occupancy rates.
Nevertheless, pricing power remains weak and average daily rates (ADR) are expected to fall further, offsetting occupancy gains and resulting in a 0.7 percent decline in revenue per available room (RevPAR) in 2010.