Positive YOY Results for US Hotel Industry for Week Ending December 9th – 2017
The U.S. hotel industry reported positive performance during the week of 3-9 December. Occupancy rose 2.7% to 60.7%, ADR increased 4% to $125.07 and RevPAR rose 6.8% to $75.97.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 3-9 December 2017, according to data from STR.
In comparison with the week of 4-10 December 2016, the industry recorded the following:
- Occupancy: +2.7% to 60.7%
- Average daily rate (ADR): +4.0% to US$125.07
- Revenue per available room (RevPAR): +6.8% to US$75.97
Among the Top 25 Markets, Miami/Hialeah, Florida, reported the largest increase in RevPAR (+83.0% to US$234.96), due primarily to the largest lift in ADR (+57.4% to US$272.55). While hosting Art Basel, the market experienced the second-highest rise in occupancy (+16.3% to 86.2%).
Houston, Texas, saw the largest increase in occupancy (+17.5% to 73.5%), which produced double-digit growth in RevPAR (+22.6% to US$81.63).
Atlanta, Georgia, posted the second-highest lift in ADR (+22.2% to US$128.70), which contributed to the second-largest rise in RevPAR (+33.2% to US$94.08).
Overall, nine of the Top 25 Markets reported double-digit increases in RevPAR.
San Diego, California, reported the only double-digit declines in ADR (-13.8% to US$130.67) and RevPAR (-17.9% to US$91.88).
Washington, D.C.-Maryland-Virginia, experienced the largest drop in occupancy (-5.5% to 66.9%) and the second-largest decrease in RevPAR (-6.7% to US$99.42).
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