CBRE Hotels is forecasting hotel revenue per available room will continue to grow steadily this year, driven by improving group business, inbound international travel and traditional transient business demand.
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Hotel Performance Improving, But COVID-Variant Threat Persists
CBRE, Dallas, said average daily rate gains and a 35 percent year-over-year occupancy increase showed demand for U.S. hotels endured in Q3 despite the Delta variant.
Hotel Sector Shows Signs of Life
The hotel sector is coming back–slowly–from its pandemic-related downturn, analysts said.