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U.S. Hotel Industry Starting To Worry About The World Cup (www.forbes.com)

submitted 2 weeks ago by CombatWombat@feddit.online to c/worldcup@lemmy.world

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Against a backdrop of economic uncertainty, geopolitical tensions and a sustained ‘Trump Slump’ of declining international visitation, the substantial World Cup bump U.S. hotels were promised may not materialize, according to CoStar, the industry’s leading benchmarking and analytics firm.

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[–] CombatWombat@feddit.online 5 points 2 weeks ago

Worse than ‘94 is bad:

Lodging demand in the U.S. during the tournament is expected to boost revenue per available room (RevPAR) nationally by only 1.2% in June and 1.5% in July, Chantal Wu, a senior director of hospitality market analytics at CoStar, told Forbes.

That’s a noticeable downgrade from less than a month ago, when CoStar and Tourism Economics forecasted a still-disappointing 1.7% year-over-year lift in RevPAR for June and July—only a quarter of the boost received when the U.S. hosted the World Cup in 1994.