Positive YOY Results for US Hotel Industry for Week Ending May 5th – 2018
During the week of 29 April through 5 May, U.S. hotels saw occupancy increase 0.5% to 68.2%, ADR increase 2.7% to $130.14 and RevPAR increase 3.3% to $88.77.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 29 April through 5 May 2018, according to data from STR.
In comparison with the week of 30 April through 6 May 2017, the industry recorded the following:
- Occupancy: +0.5% to 68.2%
- Average daily rate (ADR): +2.7% to US$130.14
- Revenue per available room (RevPAR): +3.3% to US$88.77
Among the Top 25 Markets, Oahu Island, Hawaii, posted the highest rises in occupancy (+7.2% to 88.5%) and RevPAR (+16.7% to US$219.21). ADR in the market rose 8.9% to US$247.83.
Dallas, Texas, posted the only double-digit increase in ADR (+10.3% to US$116.92) and the second-largest increase in RevPAR (+16.1% to US$86.72).
Detroit, Michigan, experienced the second-highest lift in occupancy (+5.9% to 68.2%).
Overall, 18 of the Top 25 Markets reported growth in RevPAR.
Boston, Massachusetts, saw the steepest declines in occupancy (-5.6% to 74.5%) and RevPAR (-9.4% to US$156.19).
Chicago, Illinois, reported the largest drop in ADR (-4.4% to US$145.68) and the second-largest decrease in RevPAR (-7.9% to US$101.18).
Los Angeles/Long Beach, California, experienced the second-largest decline in occupancy (-4.6% to 78.8%).
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