PKF Consulting has come up with a forecast for the hospitality industry for 2005.
- Most U.S. hotel owners, operators, and analysts (our firm included) expect the industry growth experienced in 2004 to continue in 2005. Barring a catastrophic event, the Summer 2004 edition of our Hotel Outlook calls for a 6.8 percent increase in RevPAR in 2005. This is the result of a projected 2.6 percent gain in occupancy and a 4.1 percent increase in ADR.
With expenses rising at a lesser pace than profits, hotels should have a pretty good year, PKF seems to conclude.
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