Research firm STR said U.S. hotel revenue per available room in 2012 will grow slower than previously estimated, largely because of stubbornly high unemployment and a still-stagnant housing market, both of which will hamper travel spending.
U.S. RevPAR will increase 3.9% next year primarily on increases in room rates. Occupancy will edge up just 0.2 percentage points to 60%.
Previously,STR had predicted a 7% increase in U.S. RevPAR.
“While we are still confident industry performance will remain positive during 2012, we are concerned about the lack of growth in the overall macro-economic indicators," said Amanda Hite, president of STR.
U.S. RevPAR this year will rise 7.7%, with occupancy and room rate contributing equally to the gain, STR forecasts.
The U.S. Department of Labor said earlier this month that October unemployment was little changed at 9%. Meanwhile, U.S. home prices in the third quarter were down an average of 4.7% from a year earlier, the National Association of Realtors said last week.
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