The Real Deal Miami

U.S. hotel recovery to continue in 2011: CBRE

December 20, 2010 01:58PM

The recovery in the U.S. hotel industry will continue in 2011 and will further improve in 2012, according to a CB Richard Ellis’ annual trends report. CBRE predicts that revenue per available room, or revpar for full service hotels will improve 1.6 percent over the next year and 4.4 percent over two years. The report also notes that occupancy has increased this year, with revpar growing by nearly double digits on a year-over-year basis. “The significant growth of room rates over the next couple of quarters, combined with continued occupancy gains, will bring revpar levels closer to their previous peak in 2007,” said Abigail Rosenbaum, an economist at CBRE. “It will take slightly longer than in earlier recoveries, but we expect that by 2014 both full-service and limited-service revpar will be expanding.” TRD