Mostly Negative YOY Results for US Hotel Industry for Week Ending August 5th – 2017
The U.S. hotel industry reported mostly negative results during the week of 30 July to 5 August. Occupancy decreased 1.5% to 74.5%, and despite a 0.7% ADR bump to $129, RevPAR dipped 0.8% to $96.08.
The U.S. hotel industry reported mostly negative year-over-year results in the three key performance metrics during the week of 30 July through 5 August 2017, according to data from STR.
In comparison with the week of 31 July through 6 August 2016, the industry recorded the following:
- Occupancy: -1.5% to 74.5%
- Average daily rate (ADR): +0.7% to US$129.00
- Revenue per available room (RevPAR): -0.8% to US$96.08
Among the Top 25 Markets, Detroit, Michigan, posted the largest year-over-year increases in occupancy (+8.3% to 80.4%) and RevPAR (+17.1% to US$83.80).
Two additional markets registered double-digit RevPAR growth for the week: Phoenix, Arizona (+12.3% to US$51.93), and Chicago, Illinois (+11.1% to US$126.90).
The largest ADR increases were reported in Chicago (+8.4% to US$154.91) and San Diego, California (+8.4% to US$201.47).
Philadelphia, Pennsylvania-New Jersey, reported the week’s steepest decline in RevPAR (-25.0% to US$90.31), due mostly to the only double-digit decrease in ADR (-16.0% to US$123.35).
St. Louis, Missouri-Illinois, reported the second-largest drop in RevPAR (-19.2% to US$71.68), which was primarily a result of the week’s largest decrease in occupancy (-14.7% to 69.3%).
Houston, Texas, experienced the second-largest decrease in occupancy (-12.2% to 59.0%).
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