Last week US hotel occupancy continued to slowly climb up to 32%; and continued to closely follow China's trajectory, albeit 6 weeks behind; China is now at 43%.
STR and CBRE both released updates to their FY forecasts. STR expects a drop of nearly 60% in RevPAR for FY 2020, and does not see a return to 2019 levels until late 2024, driven by a drag in ADR.
For their part, CBRE's forecast puts 2020 FY RevPAR at -52%, and a return to 2019 levels a year earlier, by 2023.
Originally posted on LinkedIn: