5 predictions for 2021
From the rebound of key hotel performance metrics to the potential return of group demand and international travel, the U.S. hotel industry could take its first steps on a long road to recovery in 2021.
December 23, 2020 | Jan Freitag | Hotel News Now
NASHVILLE, Tennessee—After the events of 2020, quite a bit of the near-term hotel industry outlook is decidedly better, which is not hard to imagine. But just like with all recoveries, the outlook varies by class, location and customer type.
As 2021 begins, here are some of the forces that will govern the U.S. hotel industry in the coming year.
1. RevPAR growth will be the strongest ever recorded
After the catastrophic U.S. hotel performance results in April, when revenue per available room declined by 80%, monthly results have gotten if not better, then at least less bad. For the full-year 2020, the STR forecast stands at just barely above a 50% decline. These are numbers and experiences you tell your grandkids about.
