Two Forecasts Point to Strong 2023 Hotel Performance

• Despite projections of persistent inflation and a moderate economic recession, CBRE’s November 2022 Hotel Horizons forecast calls for a 5.8% increase in RevPAR in 2023, up from CBRE’s previous forecast of a 5.6% increase.
• The hotel industry in 2023 is projected to surpass pre-pandemic levels of demand, nominal room revenue and state and local tax revenue, while inching closer to other key 2019 performance metrics.
• Starwood Capital Group, and Adventurous Journeys Capital Partners, announced the launch of Field & Stream Lodge Co., a branded hospitality platform aiming to create modern and affordable lifestyle lodging across the United States.

The DJIA rose 369 points while Nasdaq was up 191, the S&P 500 rose 59 points and the 10-year treasury yield was down .02 to 3.53%. Lodging stocks were higher across the board. MCG was the big winner, up 12% while INN, VCSA and PLYA each rose 5% on the day. Despite projections of persistent inflation and a moderate economic recession, CBRE’s November 2022 […]