Tariffs set to rise 5% this year in US as occupancy rates increase

GUESTS checking into a hotel run by one of the top chains in the United States can expect to pay 5 per cent more this year than last as a brighter economy pushes occupancy to record highs.

Hyatt Hotels Corp on Tuesday joined Hilton Worldwide Holdings, Marriott International and Starwood Hotels & Resorts Worldwide in forecasting that group bookings would drive growth this year.

"Groups are booking more in advance now because they feel they have a better line of light at the future economic outlook," said Lauro Ferroni, head of hotels and hospitality research at property consulting firm Jones Lang LaSalle.