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STR: US hotel performance for October 2013

November 26, 2013 Statistics & Trends No Comments Email Email

The U.S. hotel industry reported positive results in the three key performance metrics during October 2013, according to data from STR.

Overall, the U.S. hotel industry’s occupancy rose slightly, up 0.8 percent to 64.7 percent; its average daily rate was up 3.3 percent to US$113.48; and its revenue per available room increased 4.1 percent to US$73.48.

“Room demand in October increased by only 1.5 percent to 98.6 million rooms sold, well below the 2.1 percent year-to-date average,” said Jan Freitag, senior VP at STR. “Two reasons for the demand softness were likely the government shutdown between 1 October and 16 October, and Hurricane Sandy made landfall at the end of October 2012. In addition, demand comparables on the East Coast were probably tougher.”

Group ADR increased 3.1 percent, and transient ADR increased 3.5 percent, Freitag said. At the same time, group occupancy continued to decline by approximately 3.0 percent, he said.

Among the Top 25 Markets, Minneapolis-St Paul, Minnesota-Wisconsin, experienced the largest occupancy increase for the month, rising 7.0 percent to 74.6 percent, followed by Boston, Massachusetts (+6.2 percent to 86.1 percent), and Nashville, Tennessee (+6.2 percent to 74.5 percent). Washington, D.C., saw the largest occupancy decrease, falling 6.7 percent to 67.4 percent.

Oahu Island, Hawaii, achieved the only double-digit growth in ADR, increasing 11.6 percent to US$201.12. St Louis, Missouri (+9.5 percent to US$98.05) followed in ADR growth, as well as Houston, Texas (+8.4 percent to US$106.09). Denver, Colorado, reported the largest ADR decline, with a 3.3-percent drop to US$109.62.

Boston ended the month with the largest RevPAR increase, rising 14.8 percent to US$171.69, followed by Nashville’s 14.7-percent increase to US$83.06. Chicago, Illinois, posted the largest RevPAR decrease, dropping 5.5 percent to US$105.25, followed by Washington, D.C. (-5.0 percent to US$108.84).

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