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STR reports Q2 2013 results

July 27, 2013 Statistics & Trends No Comments Email Email

The U.S. hotel industry reported increases in all three key performance metrics during the second quarter of 2013 in year-over-year measurements, according to data from STR.

The industry’s occupancy increased 1.3 percent to 65.9 percent, its average daily rate rose 3.6 percent to US$110.47 and its revenue per available room was up 5.0 percent to US$72.78.

“The U.S. lodging industry has now posted RevPAR growth in thirteen consecutive quarters,” said Bobby Bowers, senior VP of operations at STR. “Second quarter RevPAR increased 5 percent, driven primarily by ADR, while occupancy hit 65.9 percent—the industry’s highest absolute second quarter occupancy rate since 2007. First half RevPAR increased 5.6 percent, reflecting stronger first quarter performance.  STR’s current forecast expects full year 2013 RevPAR growth to be at or near the level experienced in the first half.”

Among the Top 25 Markets, Minneapolis-St. Paul, Minnesota-Wisconsin, reported the largest occupancy increase, rising 6.1 percent to 71.5 percent. Houston, Texas, followed with a 4.9-percent increase to 71.8 percent. Norfolk-Virginia Beach, Virginia, posted the largest occupancy decrease, falling 5.1 percent to 59.7 percent.

Oahu Island jumped 13.9 percent in ADR to US$201.34, achieving the largest increase in that metric. San Francisco/San Mateo, California, followed with a 10.3-percent increase in ADR to US$183.05. None of the top markets reported ADR decreases during the quarter.

Four markets achieved double-digit RevPAR increases: San Francisco/San Mateo (+15.0 percent to US$159.30); Oahu Island (+14.2 percent to US$165.04); Houston (+12.5 percent to US$75.11); and Minneapolis-St. Paul (+10.0 percent to US$73.50). Norfolk-Virginia Beach (-3.2 percent to US$54.94) and Washington, D.C. (-2.1 percent to US$117.29), reported the only RevPAR decreases.

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