Booking a room at a Hartford hotel will take a bigger bite out of travelers’ wallets in 2019 and 2020.
The region’s hotel market is expected to outperform the national average this year, CBRE Hotels Americas said in a research report released this week.
CBRE projects that Hartford hotels will end the year with an increase of 4.1 percent in revenues per available room (RevPAR), a key indicator of a property’s financial performance. That’s more than double the national average of 2 percent.
Average daily rates are expected to increase by 3 percent in the Hartford market in 2019 and 1.8 percent in 2020, even as the room supply grows by 0.9 percent this year and 1 percent in 2020.
Rates will moderate in 2020, CBRE said, with a 0.5 percent RevPAR in the Hartford market, compared with projected national increase of 1.8 percent.
“Looking ahead to 2020, we expect to see a negative change in demand in Hartford, which follows the national forecast,” Mark VanStekelenburg, managing director of CBRE Hotels, said in a statement.
Lodging demand closely tracks the national economy, and CBRE Econometric Advisors predicts that U.S. gross domestic product will decelerate from a 2.2 percent increase in 2019 to just 0.7 percent in 2020.





