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STR: US Hotel Performance For October 2015

November 28, 2015 Hotel Trends No Comments Email Email

The U.S. hotel industry reported positive results in the three key performance metrics during October 2015, according to data from STR, Inc.http://www.legrandebaliuluwatu.com/

In year-over-year results, the U.S. hotel industry’s occupancy increased 1.6% to 69.1%. Average daily rate for the month was up 4.8% to US$124.01, and revenue per available room increased 6.5% to US$85.67.

“October produced the fourth lowest RevPAR increase this year,” said Jan Freitag, STR’s senior VP for lodging insights. “That happened even though we picked up a Saturday compared to last year’s October, which should have been a positive influence on the monthly data. At any rate, October 2014 RevPAR grew 9.9%, so the sum of growth of the two years is still healthy.”

Freitag also noted that RevPAR in the U.S. has now increased year over year for 68 consecutive months and that all year-to-date key performance indicators are at all-time highs.

Among the Top 25 Markets, Minneapolis/St. Paul, Minnesota-Wisconsin, reported the only double-digit rise in occupancy (+10.0% to 76.3%) as well as the largest increase in RevPAR (+19.3% to US$92.75). ADR in the market was up 8.5% to US$121.55.

Six additional markets posted a double-digit increase in RevPAR: Tampa/St. Petersburg, Florida (+16.1% to US$76.04); Dallas, Texas (+15.3% to US$83.79); Anaheim/Santa Ana, California (+14.6% to US$119.50); Nashville, Tennessee (+14.1% to US$115.84); Atlanta, Georgia (+12.7% to US$76.42); and San Diego, California (+11.1% to US$117.23).

Houston, Texas (-5.3% to US$81.73), and St. Louis, Missouri-Illinois (-4.6% to US$68.03), were the only Top 25 Markets to show a decrease in RevPAR for the month.

In terms of ADR, Nashville was the only market to report a double-digit increase, up 10.5% to US$139.80.

St. Louis (-0.1% to US$101.02) was the only market not to show year-over-year growth in ADR.

Including Minneapolis/St. Paul, 21 of the Top 25 Markets reported an increase in occupancy. Houston experienced the steepest occupancy decline, down 5.6% to 72.3%.

“Demand in the Top 25 Markets grew 3.6%, bringing occupancy in those markets up 2.3% to 77.3%,” Freitag said. “Supply was up 1.2%, which is actually a slower growth rate than in all other markets (+1.3%). That is a bit odd when looking at recent trends.”

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