Group Demand to Fuel Rising Room Rates in 2015, PwC Predicts

Hotel rates will accelerate in 2015, predicts PwC US, the U.S. firm of PricewaterhouseCoopers, which this week released an updated lodging industry forecast in which it credits "increased momentum of group demand growth" with driving a certain increase in revenue per available room (RevPAR) at U.S. hotels.

Specifically, PwC US forecasts an 8.2 percent RevPAR increase in 2015 and occupancy levels of 64.9 percent -- the highest since 1984.

"Group demand improved significantly in the third quarter, leading to stronger-than-expected occupancy levels," Scott D. Berman, principal and U.S. industry leader, hospitality & leisure, PwC, said in a statement. "Despite an evolving supply pipeline, industry demand trends are expected to remain robust, giving confidence to the operating community to drive room rates higher in 2015."

For a recap of last week's top stories, check out MeetingNews Minute: