TravelClick forecasts 7% increase in hotel revenue for 2015

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U.S. hotel revenue could rise almost 7% this year based on forward reservations, as business travel bookings continue to grow, according to hotel technology provider TravelClick.

Reservations for the next 12 months indicate a 4.2% increase in average daily rate and a 3.3% rise in reserved occupancy.

Much of the demand increase is stemming from the business sector. Specifically, committed reservations for transient business reflect an 8.9% increase in revenue per available room (RevPAR), while group reservations reflect a 7.8% rise in RevPAR.

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