Exclusive Hotel Market Gains Momentum
LOS ANGELES-Jones Lang LaSalle predicts RevPAR growth in the local hotel market to grow from 5% to 10% this year. That's on top of the double-digit growth the sector has seen over the last two years, points out John Strauss, managing director, hotels, at the firm.
He also discusses:
- The supply and demand fundamentals that are driving RevPAR growth.
- The drivers of business travel in the area, as well as conventions.
- How leisure-travel demand will fare in the coming year.