According to the June 2014 PKF Hospitality Research, LLC’s (PKF-HR) Hotel Horizons® forecast report, the U.S. lodging industry will achieve an occupancy level of 63.6 % in 2014, topping the pre-recession peak of 63.1 %. According to Mark Woodworth, president of PKF-HR, hotel owners and operators will begin to see real recoveries in average daily rates (ADR) and net operating income (NOI).
By year-end 2015, PKF-HR projects the following milestones:
- Six consecutive years of increasing occupancy, the longest such streak since 1988.
- An occupancy level of 64.6 percent, the highest level of occupancy since 1995.
- Five consecutive years of real ADR growth, leading to a full recovery in real terms from pre-recession levels.
- Six consecutive years of real revenue per available room (RevPAR) gains.
- Six consecutive years of real NOI gains, leading to a real recovery from pre-recession levels.