STR releases updated US forecasts for 2009-10
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As part of its new monthly forecast programme, STR is projecting a 17.1% decrease in revenue per available room (revPAR) for the US hotel industry in 2009. The company also revised its forecasts for the summer travel season, year-end 2009 and 2010. STR’s forecast projects 2009 occupancy to be down 8.4% to 55.4% and 2009 average daily rate (ADR) to decline 9.7% to US$96. It projects revPAR to end 2009 at US$53.
STR President, Mark Lomanno, called the revised projections “disappointing, surprising and a little bit sad”.
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