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CBRE Hotels Research | Oct 01, 2024
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Performance Varies Widely, Know Your Market
CBRE forecasts U.S. RevPAR growing by 1.2% in 2024, down from its earlier expectation of 2.0% growth. Despite the reduced full-year expectations, RevPAR growth is expected to improve in H2 2024, increasing by 2.0% versus just 0.5% in H1 2024.
The second-half growth expectations are underpinned by demand from U.S. election-related events; easier prior-year comparisons; more inbound international travelers; widely anticipated interest rate cuts; and a slight uptick in group and business travel. Urban and airport location hotels are set to outperform, while resort locations will continue to underperform as post-pandemic leisure travel trends normalize.
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