STRs expectation is for RevPAR growth that slows further to 5.3% in 2014 rather than accelerating to a faster pace of growth. Two dynamics are at work. The first is that improving growth prospects for the broader economy will continue to produce gains for the hotel industry. However, the second dynamic is that demand has gone beyond the recovery period where above average rates of growth should be expected. While the U.S. economy is still operating below its full potential, with many people still seeking full-time employment, the economic outlook is better than in the recent past. If the year unfolds as anticipated, 2014 will shape up as the first year average gross-domestic-product growth has reached 3% in eight years (since 2005). Get the full story at Hotel News Now