Negative YOY Results for US Hotel Industry for Week Ending December 30th – 2017
During the week of 24-30 December, the U.S. hotel industry reported declines in occupancy (-5.4% to 51.6%), ADR (-1.4% to $131.56) and RevPAR (-6.7% to $67.90).
The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 24-30 December 2017, according to data from STR.
In comparison with the week of 25-31 December 2016, the industry recorded the following:
- Occupancy: -5.4% to 51.6%
- Average daily rate (ADR): -1.4% to US$131.56
- Revenue per available room (RevPAR): -6.7% to US$67.90
Negative results were attributable to a comparison with the week that included New Year’s Eve in 2016.
Among the Top 25 Markets, Houston, Texas, reported the only double-digit increases in occupancy (+17.3% to 48.8%) and RevPAR (+27.9% to US$43.09). Houston also posted the largest rise in ADR (+9.0% to US$88.25).
Orlando, Florida, posted the second-largest increase in RevPAR (+9.5% to US$147.41).
St. Louis. Missouri-Illinois, saw the largest decrease in RevPAR (-20.8% to US$33.45), due mostly to the second-worst decline in occupancy (-13.8% to 40.8%).
Chicago, Illinois, reported the largest drop in ADR (-11.5% to US$98.91), resulting in the second-largest decrease in RevPAR (-17.9% to US$43.46).
Nashville, Tennessee, experienced the steepest decline in occupancy (-14.2% to 55.0%) and a double-digit decrease in RevPAR (-16.5% to US$73.25).
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