Article - U.S. Major Market RevPAR Rebounds in 2023 - By Lindsay Dyer - For the first time since the onset of the COVID pandemic, CBRE is forecasting the 2023 aggregate revenue per available room (RevPAR) for the nations 65 major markets to return to 2019 levels
Despite projections of persistent inflation and a moderate economic recession, CBRE’s November 2022 Hotel Horizons® forecast calls for a 5.8% increase in rooms revenue per available room (RevPAR) in 2023. This is up from CBRE’s previous forecast of a 5.6% increase in RevPAR for 2023.
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CBRE is raising its forecasts of hotel performance for 2022 and beyond, based on Q1 2022 strength, continued slowing of construction activity, higher inflation and continued optimism about employment and economic growth.