IACC, in conjunction with CBRE Hotels’ Americas Research (CBRE), has released the latest Hotel Horizons® forecasts for meetings and conference venues based on U.S. performance data through quarter 3 (Q3) 2017.
The research has found that 2018 will be a strong year for occupancy, average daily rate, and RevPAR growth at meetings and conference venues.
“The outlook for the U.S. economy is strong, and this specialized property type is forecast to react in a more positive fashion than the rest of the U.S. lodging industry in 2018,” says R. Mark Woodworth, Senior Managing Director of CBRE Hotels’ Americas Research.
“The wider industry findings indicate that the industry is facing a slowdown. This is in contrast to the reported conditions experience by IACC members,” comments Mark Cooper, CEO of IACC, who added: “IACC certified conference venues are in the main, forecasting higher occupancy and rate growth than realized in 2016 and predictions for 2018 are for continued improved RevPAR.”