A new report by PKF Hospitality Research predicts the hotel industry's continued improvement in key lodging metrics through 2016. The group projects a 7.2% compound annual growth rate in revPAR for the next four years. However, PKF points to continued uncertainties surrounding the "fiscal cliff" that could dampen optimism among hoteliers. "Without falling off the fiscal cliff, we believe revPAR in 2013 will increase by 6.0%. However, if budget negotiations fail, it can be assumed that revPAR growth will be well below that," said PKF Hospitality Research President R. Mark Woodworth.