Global Hotel Industry Outlook: U.S. Weakens, Middle East Shows Strength
Skift Take
The hotel industry has once again become like that friend who always says they're "fine" when you ask how they're doing. It could always be better. It could always be worse.
The global hotel industry is experiencing varied performance across regions in 2024, with some markets thriving while others struggle.
A report by CBRE Hotels Research painted a picture of an industry facing modest pressures from economic uncertainty, changing travel patterns, and increased competition from alternative accommodations.
However, few areas are seeing significant losses. Here are some highlights from CBRE's report.
U.S. Softening CBRE revised its forecast for growth in U.S. revenue per available room to just 1.2% for the full year. In February, it was projecting 3% and had