CBRE has raised its 2022 national forecast for hotel sector performance, citing better-than-expected fundamentals and below-average supply growth as well as strong domestic leisure travel.

The largest brokerage now is projecting that hotel RevPAR will reach 2019 nominal levels by Q3 2022, moving up its previous forecast of Q3 2023 by an entire year. RevPAR actually exceeded the pre-pandemic average of $184 in December, but then fell about 20% below the 2019 level during Q1 2022.

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