ARLINGTON, Virginia—CoStar and Tourism Economics additional downgraded efficiency projections within the closing U.S. resort forecast revision of 2025.
For 2025, occupancy was lowered 0.2 share factors to 62.3 p.c, whereas common each day price (ADR) was maintained at +0.8 p.c for the 12 months. Income per out there room (RevPAR) was downgraded 0.3 share factors to -0.4 p.c. The final total-year RevPAR declines in the USA occurred in 2020 and 2009.
Comparable changes have been made for 2026: occupancy (down 0.3 share factors), ADR (down 0.1 share factors), and RevPAR (down 0.3 share factors).
“We anticipate little change within the macroeconomic setting as unemployment and costs proceed to rise,” mentioned Amanda Hite, STR president. “Because of this, our resort efficiency outlook for the rest of this 12 months and subsequent have been lowered as soon as once more. ADR is rising nicely beneath the speed of inflation, which in flip will put extra stress on margins.”
“Job market softening, coverage uncertainty, and tariff prices stay near-term drags for customers. Nevertheless, heading into 2026, we anticipate the U.S. journey financial system to agency up reasonably,” mentioned Aran Ryan, director of business research with Tourism Economics. “Family revenue development will proceed, accompanied by tax minimize advantages, resumed hiring, and fewer coverage instability. Increasing world long-haul journey and World Cup curiosity will convey improved worldwide visitation.”
“GOPPAR projections have been lowered from our earlier forecast, with the lower in 2025 being primarily as a result of greater bills, particularly within the F&B division, in addition to elevated prices in different operated departments, advertising, and utilities,” mentioned Hite. “Labor prices shall be barely greater in 2025, probably because of the improve within the aforementioned F&B division, which is historically extra labor-intensive.”
