Positive YOY Results for US Hotel Industry for Week Ending December 2nd – 2017
The U.S. hotel industry reported occupancy rose 1.3% to 56.6% during the week of 26 November to 2 December. ADR also increased 0.2% to $117.82 and RevPAR rose 1.5% to $66.71 during the week.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 26 November through 2 December 2017, according to data from STR.
In comparison with the week of 27 November through 3 December 2016, the industry recorded the following:
• Occupancy: +1.3% to 56.6%
• Average daily rate (ADR): +0.2% to US$117.82
• Revenue per available room (RevPAR): +1.5% to US$66.71
Among the Top 25 Markets, Houston, Texas, reported the largest increase in RevPAR (+33.1% to US$74.18), due primarily to the highest rise in occupancy (+25.5% to 68.6%). Performance in the market continues to be boosted by post-Hurricane Harvey demand.
Tampa/St. Petersburg, Florida, posted the highest lift in ADR (+7.9% to US$113.10).
Orlando, Florida, experienced the second-highest increases in occupancy (+9.6% to 72.2%) and RevPAR (+15.7% to US$83.65).
Overall, five of the Top 25 Markets reported double-digit growth in RevPAR.
Mostly due to a calendar shift around Art Basel, Miami/Hialeah, Florida, reported the steepest declines in ADR (-31.4% to US$175.86) and RevPAR (-34.6% to US$132.52).
San Diego, California, saw the second-largest decrease in RevPAR (-20.9% to US$80.13), due primarily to the second-largest decrease in ADR (-17.6% to US$129.95).
Minneapolis/St. Paul, Minnesota-Wisconsin, experienced the largest decrease in occupancy (-8.7% to 56.7%).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Categories: Hotel Industry News