according to an update to PricewaterhouseCoopers' 2015 Hospitality Directions report. Those figures are only slightly different than the firm’s May update, which had occupancy reaching 65.7 percent during 2015 and rate growing 5 percent. PwC stated the revision reflects an expected softening of economic growth in the back half of this year but added that fundamentals and lodging demand trends remain strong. In 2016, PwC anticipates, ADR will grow 5.8 percent, occupancy will remain flat and supply growth (2 percent) will almost catch up to demand growth (2.1 percent).
Correction, Sept. 3: An earlier version of this report stated that 2015's average daily rate is growing 6.1 percent. It is growing 5 percent.