financeSkift··1 min·For: Owner, GM, Revenue, Investor, Marketing
US RevPAR Projected to Hit 14% Above 2019 Levels in 2024
CBRE forecasts that U.S. RevPAR will grow by 3.0% in 2024, reaching 14% above pre-pandemic levels, while Orlando's record-breaking marketing budget faces potential cuts.
Key Takeaways
- 1Prepare for a 3.0% RevPAR growth in 2024 as international inbound travel continues to rebound.
- 2Monitor regional supply shifts as major new hotel projects and renovations are announced for Las Vegas, Nashville, and Florida.
- 3Anticipate potential changes in destination demand as Visit Orlando faces significant cuts to its $100 million marketing budget.
Source: Skift
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