The national occupancy rate in U.S. hotels is expected to rise 2.2 percentage points next year, reaching 63.8%, the highest yearly occupancy rate since 1997, PKF Hospitality Research reports. The group forecasts a 15.4% growth in net operating income and a 7.7% increase in revenue per available room among U.S. hotels in 2014. "Throughout the recovery, we have been pleasantly surprised by the surge in demand. That being said, the growth in average daily rates has been underwhelming. Starting in 2014, we foresee economic and market conditions that should allow managers to become more aggressive with their pricing policies," said PKF-HR President R. Mark Woodworth.

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