The strong pace of revenue growth that U.S. hotels have enjoyed the past few years look like they will diminish

1. Total U.S. Hotel Revenues And Expenses Annual Change Source: PKF Hospitality Research

2. Salaries and Wages vs Employee Benefits Annual Hotel Change Source: PKF Hospitality Research

3. Hotels Utility Costs Annual Change Source: PKF Hospitality Research

4. Complimentary Food and Beverage Annual Change – Dollars Per Occupied Room Source: PKF Hospitality Research