December 12, 2018
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Room rates are expected to rise by more than 5 percent in Asia and Europe, by 2.1 percent in North America and to fall by 1.3 percent in Latin America.
The CWT/GBTA 2019 forecast said the rise in hotel rates would be driven by an increased demand for air travel, which would fuel demand for rooms.
Hotel groups including France’s Accor SA (ACCP.PA) and U.S.-based Marriott International Inc (MAR.O) have reported strong growth in revenue per available room in Asia and Europe this year.
The CWT/GBTA forecast said despite its positive outlook, risks remained for the global economy in 2019 from the rise of protectionist policies, the stoking of trade wars and uncertainty over Britain’s exit from the European Union.
Get the full story at Reuters and CWT/GBTA
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