Positive YOY Results for US Hotel Industry for Week Ending February 3rd – 2018
The U.S. hotel industry saw occupancy increase 1.4% to 56.4% during the week of 28 January to 3 February, while ADR rose 2.2% to $122.35 and RevPAR increased 3.6% to $69.05.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 28 January through 3 February 2018, according to data from STR.
In comparison with the week of 29 January through 4 February 2017, the industry recorded the following:
- Occupancy: +1.4% to 56.4%
- Average daily rate (ADR): +2.2% to US$122.35
- Revenue per available room (RevPAR): +3.6% to US$69.05
Super Bowl LII host, Minneapolis/St. Paul, Minnesota-Wisconsin, reported the largest increase among Top 25 Markets in each of the three key performance metrics: occupancy (+38.3% to 72.5%), ADR (+129.1% to US$241.98) and RevPAR (+216.9% to US$175.51).
Seattle, Washington, posted the only other double-digit lift in ADR (+15.7% to US$152.30), which resulted in the second-highest jump in RevPAR (+20.1% to US$104.17).
Two markets matched for the second-highest rise in occupancy: Philadelphia, Pennsylvania-New Jersey (+8.8% to 57.4%), and Chicago, Illinois (+8.8% to 49.9%).
Affected by comparisons with its Super Bowl host week last year, Houston, Texas, reported the steepest decline in RevPAR (-45.1% to US$73.24), primarily because of the largest decrease in ADR (-42.7% to US$109.76). Occupancy in the market fell 4.1% to 66.7%.
Nashville, Tennessee, experienced the largest drop in occupancy (-4.9% to 61.9%).
San Diego, California, reported the second-largest decreases in all three key performance metrics: occupancy (-4.7% to 70.6%), ADR (-4.8% to US$145.75) and RevPAR (-9.3% to US$102.85).
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