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2012 Outlook Remains Positive For U.S. Lodging Industry

publication date: Nov 22, 2011
 | 
author/source: Robert Mandelbaum, Director of Research Information Services for PKF Hospitality Research.
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2012 Outlook Remains Positive For U.S. Lodging Industry | PKF Reports

Friday 18 November 2011
PKF - Consulting wiwih

PKF Hospitality Research (PKF-HR) has released their preliminary Hotel Horizons® updated forecast for the U.S. lodging industry. Based on performance data through September of 2011 (provided by Smith Travel Research), and Moody's Analytics' October 2011 domestic economic forecast, PKF-HR believes that RevPAR in the U.S. will increase by 8.1 percent in 2011, and rise another 6.2 percent in 2012.

PKF Hospitality Research (PKF-HR) has released their preliminary Hotel Horizons® updated forecast for the U.S. lodging industry. Based on performance data through September of 2011 (provided by Smith Travel Research), and Moody's Analytics' October 2011 domestic economic forecast, PKF-HR believes that RevPAR in the U.S. will increase by 8.1 percent in 2011, and rise another 6.2 percent in 2012.

"The ongoing recovery of U.S. hotels in 2011 has continued to slightly outpace our forecasts. The 8.1 percent revised RevPAR forecast for the current year represents a 90 basis point increase over our previous forecast released earlier this year," said R. Mark Woodworth, President of PKF-HR.

Because of the accelerated performance in 2011, the PKF-HR forecast change in RevPAR for 2012 has been lowered 110 basis points from 90 days ago to still-attractive 6.2 percent. "We remain very positive about the prospects for 2012. By the end of next year, the industry RevPAR level will be where we always thought it would be. It's just getting there more quickly, thus the reduced year-over-year percentage change."

PKF-HR's optimistic outlook for lodging performance in 2012 is rooted in the economic forecasts of Moody's Analytics. "Real personal income is projected to rise, and the most important elements of the nation's Gross Domestic Product (consumer spending and business investment) are anticipated to continue to grow," noted John B. (Jack) Corgel Ph.D., the Robert C. Baker Professor of Real Estate at the Cornell Hotel School and Senior Advisor to PKF-HR. "Most encouraging is the recent positive news regarding employment. Each report on unemployment claims and other measures provides signals of gradual improvement. A brightening of the employment scene supports the floor on our forecasts of hotel performance."

The December editions of Hotel Horizons® are scheduled to be distributed early in the month. They will contain lodging forecasts for the six national chain-scales, six national location types, and 50 major markets.

About PKF CONSULTING USA

Headquartered in San Francisco, PKF Consulting USA (www.pkfc.com) is an advisory and real estate firm specializing in the hospitality industry. PKF Consulting USA is owned by FirstService Corporation and is a subsidiary of Colliers International. The firm operates three companies: PKF Consulting USA, PKF Hospitality Research, Colliers International Hotels. The firm has offices in New York, Boston, Indianapolis, Chicago, Philadelphia, Washington DC, Atlanta, Asheville, Jacksonville, Orlando, Tampa, Houston, Dallas, Los Angeles, Bozeman, Miami, Portland, Sacramento, and San Francisco.

PKF Consulting USA offers hotel appraisal and hotel valuation services, hotel market studies, hospitality litigation support, and hotel advisory services. Colliers International Hotels offers hotel brokerage and hotel transaction services. PKF Hospitality Research produces Hotel Horizons®, an econometrically based hotel forecast, BenchmarkerSM, a customized comparative hotel benchmark report, and Annual Trends® in the Hotel Industry, a historical hotel financial publication featuring rich hotel statistics, as well as hotel research services.

Contact Information

Robert Mandelbaum
Director of Research Information Services
Email: robert.mandelbaum@pkfc.com

Company Details

Hospitality NetColliers PKF Hospitality Research
www.pkfc.com
3475 Lenox Road | Suite 720
USA - Atlanta, GA 30326
Phone: (404) 842-1150
Fax: (404) 842-1165
Email: robert.mandelbaum@pkfc.com


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