Industry Sentiment Remains Hopeful for ADR and Group Demand, Recession Fears Grow

CoStar Group | September 25, 2023

In early Q3 2023, STR completed the third edition of the Hospitality Industry Sentiment (HIS) survey, a quarterly survey of travel industry professionals. Between the first and second waves of this survey, we saw some subtle shifts in experts’ expectations for industry performance. Leisure demand was tapering off, but group demand and major events were on the rise. Now with the third wave of the survey on the books, some patterns have become further established, and some new trends emerge as well. Average daily rate (ADR) expectations across the globe remain positive, while optimism for occupancy growth has slipped into the...