Positive YOY Results for US Hotel Industry for Week Ending January 6th – 2018
During the week of 31 December through 6 January, the U.S. hotel industry reported occupancy rose 3.6% to 48.7%, while ADR increased 5.8% to $124.33 and RevPAR rose 9.6% to $60.59.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 31 December 2017 through 6 January 2018, according to data from STR.
In comparison with the week of 1-6 January 2017, the industry recorded the following:
- Occupancy: +3.6% to 48.7%
- Average daily rate (ADR): +5.8% to US$124.33
- Revenue per available room (RevPAR): +9.6% to US$60.59
Opposite of the prior week, performance growth was boosted by a comparison with the week that did not include New Year’s Eve in 2016.
Among the Top 25 Markets, the top RevPAR increases were reported in Orlando, Florida (+36.7% to US$116.34), and New Orleans, Louisiana (+35.0% to US$110.50).
New York, New York, posted the largest lift in ADR (+23.8% to US$222.68), which pushed the third-largest jump in RevPAR (+34.0% to US$171.41).
San Diego, California, experienced the highest rise in occupancy (+19.4% to 62.9%). RevPAR in the market grew 31.4% to US$79.95.
Overall, 17 of the Top 25 Markets reported double-digit increases in RevPAR.
Tampa/St. Petersburg, Florida, reported the largest decrease in ADR (-6.1% to US$124.60) and the only decline in RevPAR (-5.5% to US$78.28).
The only two drops in occupancy were seen in Denver, Colorado (-0.9% to 49.7%), and St. Louis, Missouri (-0.8% to 42.2%).
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