US market rebounds in 2002
14 May 2001
The US hotel industry is set for a dramatic growth in revenue per available room (revpar) during 2002, according to a new report.
PricewaterhouseCoopers' Lodging Industry Forecast predicts a revpar growth of 4.3% in 2002, compared with a 2.8% forecast for 2001.
The expected recovery is due to a slowdown in the number of hotels being built and an increase in the number of guests as the US economy begins to recover.
Supply growth slowed from 3.6% in 1999 to 2.9% in 2000. The report forecasts a 2.5% growth for 2001 and 2.2% in 2002.
Room occupancy in 2002 is predicted to be 63.2%, up from a forecast of 62.9% for 2001.
