Hotel revenue in 2022 predicted to surpass 2019 levels

|
A U.S. lodging industry forecast recently released by PwC indicates that this year's steep hike in average daily rates is expected to propel 2022 revenue per available room past 2019 levels.
A U.S. lodging industry forecast recently released by PwC indicates that this year's steep hike in average daily rates is expected to propel 2022 revenue per available room past 2019 levels. Photo Credit: dotshock/Shutterstock.com

A U.S. lodging industry forecast recently released by PwC indicates that this year's steep hike in average daily rates is expected to propel 2022 revenue per available room past 2019 levels.

According to PwC, ADR surpassed comparable 2019 levels during each month of both the third and fourth quarters of last year, as well as in February, March and April of this year.

Related:

Hyatt says its investment in all-inclusives is paying dividends

Marriot's Q1: Luxury is a standout, vacation rentals is a focus

Hilton says it has bounced back strong from omicron

That growth was attributed primarily to strong leisure business, which is set to continue through the summer and is expected to drive rates and RevPAR "to new highs." Likewise, a more recent rebound in individual business travel and group business as the weather warms is helping to underpin demand, said PwC.

PwC predicts that the U.S. lodging sector will see ADR increase 16.9% for the year, which is projected to drive RevPAR up 28.1%. 

The accounting firm's previous U.S. lodging forecast for 2022, released last November, had predicted ADR growth of 5.9%, with RevPAR for the year expected to grow 14.4%.

Comments

From Our Partners


From Our Partners

An Insider’s Look at the Globus family of brands and Avalon Waterways, featuring Camille Olivere
An Insider’s Look at the Globus family of brands and Avalon Waterways, featuring Camille Olivere
Watch Now
The Luxury Advisor
The Luxury Advisor
Read More
KLM Introduces Premium Comfort
KLM Introduces Premium Comfort
Watch Now

JDS Travel News JDS Viewpoints JDS Africa/MI