December 13, 2012 - 12:00 PM ET

PKF Hospitality Research projects average daily rates for U.S. hotels will increase by 5.4 percent on a compound annual basis through 2016. Although U.S. fiscal cliff negotiations have the potential to derail hotel performance next year, the overall four-year period should be a "period of sustained levels of prosperity" with "record profitability" for hoteliers, PKF Hospitality Research president Mark Woodworth said in a statement. U.S. hotel occupancy by the end of 2013 should reach 62.1 percent, above the long-term average, according to PKF.