Weak Q1 Caused CBRE to Reduce 2024 RevPAR Growth Forecast from 3% to 2% & CBRE U.S. Hotels State of the Union June 2024 Edition

CBRE expects 2024 RevPAR to be bolstered by a 0.2% increase in occupancy and a 1.7% increase in ADR, driven primarily by growth in group, business transient and international travel. Urban and airport locations are expected to outperform in 2024.