Lodging

 
In the first half of 2024, hotel revenue per available room (RevPAR) growth was modest, increasing just 0.5% - below CBRE's expectations. Factors like record outbound international travel, weaker consumer spending, and rising competition from short-term rentals and cruise lines have hindered growth. CBRE forecasts a 2.0% RevPAR increase by the end of 2024 driven by election-related events, improved inbound international travel, and stronger business travel. However, resort locations are expected to underperform, with flat growth projected for the year. CBRE's full-year RevPAR growth forecast was lowered to 1.2%, and the hotel supply growth outlook remains subdued, at less than 1% annually. tinyurl.com/Lodging-24