Starwood, Marriott Cut RevPAR Forecast

    What a difference a few months makes. Throughout the mixed bag of hotel company earnings calls this week, one thing was clear—the outlook for 2016 is a lot more complicated than it was at the end of last year. Starwood Hotels cut its 2016 system-wide RevPAR growth forecast to 2 to 4 percent in constant dollars, from the 4 to 6 percent the company had previously predicted. For its part, Marriott revised its RevPAR forecast for North America from 4 to 6 percent to 3 to 5 percent. This is in line with the RevPAR forecasts offered by Choice Hotels (3.75 to 4.75 percent in North America), Hyatt Hotels (3 to 5 percent system-wide), and Wyndham Hotel Group (3 to 5 percent in North America) during their earnings calls. While there are many factors playing into these forecasts, Marriott said it expected group business to remain strong while transient business grows at a slower rate. To learn more, click here.