HENDERSONVILLE, Tennessee—RevPAR declines are expected to continue into the convention season according to STR’s revised monthly forecast. The company also revised its forecasts for year-end 2009 and 2010.
STR’s forecast projects 2009 occupancy to be down 8.4 percent to 55.4 percent and ADR to decline 9.7 percent to US$96.43. It projects RevPAR to end 2009 with a 17.1-percent decrease to US$53.41. Supply in 2009 is projected to increase 3.0 percent, while demand is expected to end the year down 5.5 percent.
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