Hotels Continue to Push Profits

The Ameswell Hotel will feature local design with a strong emphasis on art and technology.

MOUNTAIN VIEW, CA—The US lodging industry will enjoy continued growth in all major metrics in 2018, at a faster pace than originally forecast, GlobeSt.com learns. RevPAR for US hotels is expected to continue growing through 2018 into next year, leading STR and CBRE Hotels’ Americas Research to revise 2018 forecasts upward. CBRE increased its RevPAR forecast for the year from 2.5% to 2.8%, and STR’s RevPAR forecast rose from a 2.2% increase to an expected 2.7% increase.

These RevPAR numbers are helped by a slight decrease in construction of new hotel rooms. The number of rooms under construction declined in six of the last seven months through April and overall construction activity was down 2.2% from last year, according to Trepp.