- RevPAR trends are softening
- We are projecting 4-5% Q4 RevPAR growth in the US for the Upper Upscale segment
- The Street and company guidance looks too high for 2013 – MAR guided to +5-7%. We don’t share their optimism.
Takeaway: We still think the industry will fall below the low end of MAR’s Q4 RevPAR guidance of 5-7%.
