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STR: US hotel performance for August 2015

September 26, 2015 Hotel Trends No Comments Email Email

The U.S. hotel industry reported mixed results in the three key performance metrics during August 2015, according to data from STR, Inc.In year-over-year results, the U.S. hotel industry’s occupancy decreased 1.4% to 70.7%; its average daily rate was up 3.6% to US$122.32; and its revenue per available room increased 2.2% to US$86.46.

Performance results for the month were skewed by a later Labor Day weekend, according to Jan Freitag, STR’s senior VP for lodging insights. “Labor Day weekend not only fell in an earlier week last year, it actually fell in the previous month,” Freitag said.

Despite the decrease in occupancy, RevPAR in the U.S. has now increased year-over-year for 66 consecutive months.

“Room demand declined for the first time in 69 months—it had been growing since October 2009,” Freitag said. “Well, ‘decline’ is sort of a harsh word; a 0.3% demand drop is basically flat performance. In August, the industry lost some 306,000 rooms compared to last year. That said, total demand was still just below 110 million roomnights which, by the way, is the fourth best room demand month ever.”

Among the Top 25 Markets, Denver, Colorado, reported the only double-digit increases in ADR (+10.0% to US$128.16) and RevPAR (+11.5% to US$109.64). Occupancy in the market increased 1.4% to 85.5%.

Dallas, Texas, followed in RevPAR growth with an 8.4% increase to US$64.08.

St. Louis, Missouri-Illinois, reported the largest decrease in RevPAR, down 5.7% to US$65.96.

Seattle, Washington, saw the second largest increase in ADR, up 9.8% to US$180.13.

The largest drop in ADR was reported in New York, New York (-3.3% to US$232.76).

Phoenix, Arizona (+4.9% to 54.6%), experienced the most significant rise in occupancy, while Houston, Texas (-7.6% to 65.5%), saw the steepest occupancy decline.

“The Top 25 Markets once again outperformed the nation,” Freitag said. “Occupancy was 75.7%, but this was down 1.4% from last year—the same drop as the total U.S.”

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