STR: U.S. hotel results for week ending 10 November
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 4-10 November 2018, according to data from STR.
In comparison with the week of 5-11 November 2017, the industry recorded the following:
Occupancy: +0.7% to 69.0%
Average daily rate (ADR): +1.0% to US$129.95
Revenue per available room (RevPAR): +1.6% to US$89.68
Two of the Top 25 Markets matched for the largest increase in RevPAR: Boston, Massachusetts (+15.7% to US$194.59), and San Diego, California (+15.7% to US$142.47).
Boston’s growth was driven by the only double-digit rise in occupancy (+10.3% to 89.3%).
San Diego posted the largest lift in ADR (+7.9% to US$169.04) and the second-highest jump in occupancy (+7.2% to 84.3%).
Atlanta, Georgia, saw the only other double-digit increase in RevPAR (+12.7% to US$98.10), due in part to the second-largest increase in ADR (+6.4% to US$122.12).
Overall, 13 of the Top 25 Markets reported a RevPAR increase.
San Francisco/San Mateo, California, registered the steepest decline in ADR (-20.0% to US$265.13), resulting in the largest drop in RevPAR (-21.8% to US$232.04).
Houston, Texas, experienced the only double-digit drop in occupancy (-16.6% to 68.8%) and the second-largest decrease in RevPAR (-16.8% to US$78.15).
New Orleans, Louisiana, posted the second-largest decline in RevPAR (-9.4% to US$124.17), due primarily to the only other double-digit decrease in ADR (-10.4% to US$161.68).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Source: Read Full Article