Occupancy Levels Expected to Decline in 2017 After Eight-Year Growth Run As More Than 255,000 New Rooms Hit Market ikn 2017 and ’18
In its latest outlook for the U.S. lodging sector, CBRE Hotels’ Americas Research notes that the sector will continue to accrue benefits next year from achieving the industry’s all-time record occupancy record in 2016 of 65.4%.
However, a range of expected factors, from new hotel supply entering the market to the growing influence of Airbrb, is expected to impact hotel returns in 2017. New hotel openings will jump to 1,056 properties totaling 118,638 rooms in 2017 and 1,056 hotels totaling 138,580 rooms in 2018, just short of the 2008 peak of 1,341 hotels and 154,257 rooms, according to Lodging Econometrics.
CBRE forecasts the average daily rate (ADR) will increase 3.3% next year, a strong positive indicator but a lower ADR growth rate than in 2016, and a continuation of a trend since 2014.
Click <a href="http://www.costar generic indian viagra.com/News/Article/As-Good-as-it-Gets-Peaking-Lodging-Sector-Facing-Mixed-Outlook-from-Rising-Supply-Growing-Influence-of-Airbnb/187539″>here for full article
