CBRE: Hotel Performances Vary Worldwide
Skift Take
CBRE’s 2024 Global Hotels Midyear Outlook highlights modest RevPAR growth in the U.S., strong resilience in Northern Latin America, slower growth in Europe with luxury outperforming, rising occupancy in the Middle East, and increased air travel boosting Asia Pacific markets.
The DJIA fell 185 points while Nasdaq was down 7, the S&P 500 fell 10 points, and the 10-year treasury yield was up .07 to 3.85%. Lodging stocks were lower. Key takeaways from CBRE’s 2024 Global Hotels Midyear Outlook include the United States: RevPAR growth is forecast to be 1.2% for 2024, with stronger performance in H2 driven by election-related events, easier prior-year growth comparisons, more inbound international travelers, and a slight uptick in both group and individual business travel demand. Northern Latin America: The region shows strong resilience, with Costa Rica surpassing pre-pandemic occupancy levels and Mexico attracting significant international visitors. Europe: RevPAR growth is anticipated to decelerate to around 5% in 2024, though luxury and resort locations should continue to outperform due to high-income travelers’ preferences. Middle East: Strong visitation growth in Saudi Arabia and the UAE underpins occupancy, and RevPAR increa
