Positive Performance Metrics for US Hotel Industry for Week Ending May 13th – 2017
The U.S. hotel industry reported occupancy was flat (-0.1% to 67.9%), but ADR and RevPAR showed positive year-over-year performance during the week of 7-13 May. ADR rose 2.1% to $125.64 and RevPAR increased 2% to $85.34.
The U.S. hotel industry reported mostly positive results in the three key performance metrics during the week of 7-13 May 2017, according to data from STR.
In comparison with the week of 8-14 May 2016, the industry reported the following:
- Occupancy: -0.1% to 67.9%
- Average daily rate (ADR): +2.1% to US$125.64
- Revenue per available room (RevPAR): +2.0% to US$85.34
Opposite from last week, STR analysts note that occupancy was considerably lower on Friday and Saturday due to a comparison with a non-Mother’s Day weekend a year ago.
Among the Top 25 Markets, Orlando, Florida, posted the largest year-over-year increases across the three key performance metrics. Occupancy grew 14.1% to 76.2%, ADR was up 13.1% to US$118.89 and RevPAR rose 29.0% to US$90.66.
Four additional markets experienced a double-digit lift in RevPAR for the week: St. Louis, Missouri-Illinois (+18.7% to US$82.60); Seattle, Washington (+15.1% to US$137.83); Philadelphia, Pennsylvania-New Jersey (+14.8% to US$129.13); and Denver, Colorado (+13.9% to US$108.08).
While no markets outside of Orlando reported double-digit growth in occupancy for the week, three did record a double-digit increase in ADR: St. Louis (+12.5% to US$113.48), Seattle (+11.9% to US$168.36) and Philadelphia (+10.7% to US$160.86).
Houston, Texas, saw the week’s steepest declines in occupancy (-7.6% to 61.5%) and RevPAR (-13.1% to US$63.52).
New Orleans, Louisiana, reported the largest drop in ADR (-7.2% to US$151.53).
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: Market Reports