CBRE expects RevPAR Growth to Improve in H2 2024, Driven by Holiday and International Travel

DALLAS – CBRE expects revenue per available room (RevPAR) growth to improve in the second half of 2024, following a weaker-than-expected first quarter.

CBRE’s latest forecast projects a 2.0% increase in RevPAR growth for 2024, down from the 3.0% estimated in February 2024. RevPAR is now expected to grow by 3% for the remainder of the year, driven by international tourists, holiday travel and limited supply growth.

CBRE forecasts GDP growth of 2.3% and average inflation of 3.2% in 2024.