Sunday, May 21, 2023
North America

CBRE Raises Hotel Performance Forecast for 2023

  • STR reported US RevPAR for the week ended May 13 was down -1.3% year over year, possibly impacted by Mother’s Day timing.
  • CBRE is again raising its forecast for hotel performance this year. The company has revised its forecast for 2023 RevPAR to $97.89, up 6.0% YOY and an increase of $0.43 from its previous forecast.
  • Hilton announced the opening of Canopy by Hilton San Francisco SoMA.

The DJIA ended Friday down 109 points while Nasdaq was down 31, the S&P 500fell 6 points and the 10-year treasury yield was up .04 to 3.69%. Lodging stocks were modestly lower. SOND was down -14% after rising in the past week on heavy insider buying. SLNA traded down -8% to another all-time low. STR reported US RevPAR for the week ended May 13 […]