PricewaterhouseCoopers Monday released an updated lodging forecast that projects a 6.2 percent year-over-year increase in U.S. average daily rate in 2015, following a 4.7 percent increase this year.
PwC predicted 2014 U.S. occupancy to increase to 64.2 percent from 62.1 percent in 2013, due in part to increasing group demand. PwC projects 2015 U.S. occupancy of 64.9 percent.
"Group demand improved significantly in the third quarter, leading to stronger-than-expected occupancy levels," according to Scott Berman, PwC principal and U.S. hospitality and leisure practice leader. "Despite an evolving supply pipeline, industry demand trends are expected to remain robust, giving confidence to the operating community to drive room rates higher in 2015."
The projected 2015 U.S. occupancy level of 64.9 percent would be the highest since 1984, according to PwC.