November 21, 2024 10:32 pm
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Here’s why researchers expect hotels to see full recovery by late 2022

AZBusiness Magazine |AZBigMedia

After suffering the greatest performance declines in the history of the U.S. lodging industry during 2020, the nation’s hotels will benefit from what is expected to be a relatively rapid economic turnaround in 2021 and 2022, according to the June 2020 edition of CBRE’s Hotel Horizons forecast report. 

CBRE foresees demand for U.S. lodging accommodations returning to pre-crisis levels in the third quarter of 2022. However, a lag in ADR (average daily rate) growth will stall the recovery in RevPAR (revenue per available room) until 2023. 

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