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STR Reports US Q3 2015 Results­

October 31, 2015 Hotel Trends No Comments Email Email

The U.S. hotel industry reported positive results in the three key performance metrics for the third quarter of 2015, according to data from STR, Inc.http://www.exoticvoyages.com/

In year-over-year results, occupancy was up 1.4% to 71.3%; average daily rate rose 4.5% to US$122.66; and revenue per available room increased 5.9% to US$87.47.

Year to date through the three quarters, U.S. occupancy increased 2.0% to 67.3%; ADR was up 4.7% to US$120.35; and RevPAR rose 6.7% to US$80.94.

“Third-quarter growth across the KPIs was robust considering overall quarterly performance was stumped by calendar comparability issues in August,” said Brad Garner, STR’s senior VP for client relationships.

Industry demand increased 2.5% during the third quarter, while supply was up 1.2%.

“Labor Day weekend moved from August in 2014 to September in 2015,” Garner noted. “Eid al-Adha and Yom Kippur also shifted from October 2014 to September 2015. We believe those holidays will shift group roomnight demand into the fourth-quarter performance results, considering that group occupancy was down 1.7% in the third quarter.”

Six of the Top 25 Markets reported double-digit RevPAR increases during the quarter: Anaheim/Santa Ana, California (+12.5% to US$130.90); Nashville, Tennessee (+12.3% to US$96.84); Orlando, Florida (+12.1% to US$74.09); Los Angeles/Long Beach, California (+11.1% to US$143.68); Tampa/St. Petersburg, Florida (+10.7% to US$67.98); and Dallas, Texas (+10.5% to US$67.96).

Houston, Texas (-3.7% to US$70.14), and New Orleans, Louisiana (-0.6% to US$78.77), were the only Top 25 Markets to report a decrease in RevPAR for the third quarter.

Los Angeles/Long Beach posted the largest increase in ADR, up 9.6% to US$169.62. Nashville followed with a 9.1% increase to US$125.91.

Washington, D.C.-Maryland-Virginia (-0.1% to US$139.16), was the only market to report an ADR decrease.

Orlando (+6.0% to 73.0%) experienced the largest occupancy increase, while Houston (-5.8% to 67.2%) reported the largest occupancy decrease.

San Francisco/San Mateo, California (90.3%), recorded the highest absolute occupancy for the quarter, followed by New York, New York (88.6%).

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