The hotel market will cool in 2008 but remain a seller’s market, according to PKF Hospitality Research, Atlanta.
PKF is projecting a 4.5 percent gain in revenue per available room (RevPAR), the slowest pace of growth since 2003. Occupancy levels are expected to decline slightly (-0.7 percent), while average daily room rates (ADR) should increase 5.3 percent. Both of these numbers are down from 2007, PKF says.
“Given the cyclical nature of the lodging industry, a slowdown in pe