CBRE Hotels Raises Outlook for Second Half of 2022, Expects Continued Growth in 2023

CBRE Group, Inc. | September 7, 2022

Dallas – September 7, 2022 – CBRE is raising its forecast for hotel performance on the heels of industry gains in Q2 2022 and the expectation of slightly positive GDP growth in 2023. CBRE has revised its forecast for the second half of 2022 to a gain in revenue per available room (RevPAR) of 14.7 percent year-over-year, up from the previous projection of 13.1 percent year-over-year. The revision is predicated on a 3.5 percentage point increase in expected average daily rate (ADR) growth compared to the previous forecast issued in May 2022, as well as a 2.2 percentage point reduction in CBRE’s demand forecast. U.S. hotel industry per...