The average daily rate at U.S. hotels annually will increase an average of 5.4 percent through 2017,

according to a forecast published Thursday by PKF Hospitality Research. The firm also projects that demand growth will outpace supply growth in the United States through 2016, meaning occupancy levels will reach or exceed record levels through 2017. "With scarcity now a reality for consumers in many markets for a growing number of property types, hotel operators will have the leverage they need to drive room rates well above the pace of inflation," according to PKF Hospitality Research president Mark Woodworth.