Prices do reflect RevPAR. In the previous issue (2014Q1), we had revisited the year-over-year change in RevPAR relative to our Repeat Sale Index. Since we showed that the year-overyear change in RevPAR is a leading indicator of price fluctuations in hotel properties, we expected prices to reflect the positive momentum in the second quarter. The second quarter has come and gone, and we are happy to report that prices have increased as predicted.
Liu, C. H., Nowak, A. D., & White, R. M. (2014). Second quarter 2014: Prices rise as expected, moderate price growth is anticipated [Electronic article]. Center for Real Estate and Finance Reports Hotel Indices, 3(5), 1-16.