After Strong First Quarter, CBRE Forecasts Eighth Consecutive Year of Occupancy Growth for U.S. Hotels

CBRE Group, Inc. | May 23, 2017

Atlanta – May 23, 2017 – The U.S. lodging industry started 2017 on a strong note. During the first quarter of 2017, hotel demand increased by 2.8 percent. The result was an occupancy of 61.1 percent, the highest first quarter occupancy rate reported by STR in the past 30 years. "Since bottoming out in the fourth quarter of 2009, U.S. lodging demand now has grown for 29 consecutive quarters, and led to the record occupancy levels we currently are observing," said R. Mark Woodworth, senior managing director of CBRE Hotels' Americas Research (CBRE). "We realize that favorable prior year comparisons contributed to the strong gro...