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STR: US hotel performance for February 2015

March 23, 2015 Statistics & Trends No Comments Email Email

The U.S. hotel industry reported positive results in the three key performance metrics during February 2015, according to data from STR, Inc.In year-over-year results, the U.S. hotel industry’s occupancy was up 3.2 percent to 62.3 percent; its average daily rate rose 4.7 percent to US$116.55; and its revenue per available room increased 8.0 percent to US$72.60.

Bobby Bowers, STR’s senior VP of operations, noted the 62.3-percent occupancy rate is the highest STR has ever recorded for February. Bowers also indicated the 8.0-percent rise in RevPAR was driven primarily by ADR.

“We expect continued yet slower occupancy growth looking ahead, particularly in the second half as comps become somewhat tougher to match,” Bowers said. “ADR should continue to be the primary driver of RevPAR growth. STR and Tourism Economics are currently forecasting full-year U.S. RevPAR growth at 6.4 percent.”

Of the Top 25 Markets, 11 achieved double-digit RevPAR increases led by Denver, Colorado (+21.6 percent to US$80.10). Three other Top 25 Markets reported RevPAR increases of at least 15.0 percent: Tampa/St. Petersburg, Florida (+18.5 percent to US$106.92); Phoenix, Arizona (+17.9 percent to US$125.80); and New Orleans, Louisiana (+16.7 percent to US$128.30).

Oahu Island, Hawaii (-2.9 percent to US$187.30) and New York, New York (-2.8 percent to US$148.04) reported the largest RevPAR decreases.

Phoenix, one of five Top 25 Markets to experience a double-digit ADR increase, saw ADR rise 12.9 percent to US$153.66. New York (-4.5 percent to US$197.42) and Norfolk/Virginia Beach, Virginia (-0.4 percent to US$69.20) reported the only ADR decreases for the month.

New Orleans (+9.3 percent to 75.4 percent) posted the largest occupancy increase. Houston, Texas, reported the largest occupancy decrease (-3.9 percent to 74.4 percent).

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