CBRE: Hotel Sector Faces Mixed Outlook
That’s according to the latest outlook from CBRE Hotels’ Americas Research, which says new hotel supply entering the market is likely to hurt occupancy rates and highlights Airbnb as a growing threat, CoStar reports. But CBRE forecasts average daily rates to grow 3.3% next year.
Looking at the details more closely, CBRE expects ADR success to vary by location, saying Northern California, Washington, DC, and Tampa should grow the most with expected ADR gains exceeding 6% through 2017. [CoStar]