Modest growth is predicted to continue for U.S. hotels.
For the month of July 2017, data shows an 11.7% increase in the number of rooms Under Contract compared to July 2016 across the United States. Under Contract data includes projects in the In Construction, Final Planning, and Planning stages.
Data shows a 1.0% increase in rooms In Construction from July 2016 to July 2017. See the chart below for more details about Missouri’s major cities in comparison to other major cities.
By the end of 2017, the U.S. hotel industry is predicted to report a 2.3% rise in average daily rate (ADR), and a 2.3% increase in revenue per available room (RevPAR). Occupancy is predicted to increase 0.4%.
For 2018, the U.S. hotel industry is predicted to report a 2.5% increase in ADR, a 2.3% increase in RevPAR, but a small decrease of 0.2% in occupancy.
All data provided by STR. STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.