Last year proved to be another one for the hotel industry record books: occupancy, average daily rate (ADR), and revenue per available room (RevPAR) all increased year-over-year. And while the rate of growth is diminishing as the economy slows down a bit and new supply continues to hit the market, changes to the tax code appear to have breathed new life into the recovery. Last year’s concerns over a possible decline in tourism to gateway cities proved to be generally unfounded, and we expect that to be the case as we move through this year as well.

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