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U.S. Hotel Revenues Climb To Record Highs In 2016, But Experts Project Slow Growth Ahead
After recording one of the strongest first-quarter performances on record, new data shows U.S. hotel revenues hit all-time highs in 2016.
STR’s 2017 HOST Almanac report said hotel revenues in 2016 rose almost $9B from 2015 levels to surpass $199B last year. Total industry profit topped $76B, a 2% per-available-room increase from 2015.
While the sector posted records in each category, STR said growth was considerably slower than in 2015, with total revenues increasing 4.5% last year compared to an 8.1% jump in 2015. That slow growth will likely carry well into 2017, churning only moderate profit increases in the short term.
