CBRE Hotels Research has released a preliminary 2020 forecast that analyzes the impact of the pandemic on hotel performance and provides insight as to how hotels may start to recover in the back half of the year. Key Findings: CBRE expects GDP growth will slow to 0.4% in 2020. U.S. RevPAR will decline by 37% in 2020, with a contraction of more than 60% in Q2. Demand will decline by 28% in 2020; ADRs are expected to decline 11% in 2020. The most complex constraint
CBRE Hotels Research has released a preliminary 2020 forecast that analyzes the impact of the pandemic on hotel performance and provides insight as to how hotels may start to recover in the back half of the year.
Key Findings:
- CBRE expects GDP growth will slow to 0.4% in 2020.
- U.S. RevPAR will decline by 37% in 2020, with a contraction of more than 60% in Q2.
- Demand will decline by 28% in 2020; ADRs are expected to decline 11% in 2020.
- The most complex constraint impairing travel comes from social distancing efforts and travel or group gathering restrictions on global populations.
- Properties that primarily cater to discretionary travel will be affected most, i.e. luxury, upper upscale, urban, airport, and resort properties.
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She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
