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STR: US hotel results for week ending 1 October

October 10, 2016 Hotel Trends No Comments Email Email
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The U.S. hotel industry recorded positive results in the three key performance metrics during the week of 25 September through 1 October 2016, according to data from STR.
In year-over-year comparisons, the industry’s occupancy increased 1.8% to 70.0%. Average daily rate (ADR) was up 1.3% to US$126.95. Revenue per available room (RevPAR) grew 3.2% to US$88.83.

Among the Top 25 Markets, Minneapolis/St. Paul, Minnesota-Wisconsin, posted the largest year-over-year increases in ADR (+45.4% to US$181.32) and RevPAR (+61.3% to US$155.34).

Six additional markets experienced a double-digit lift in RevPAR for the week: Norfolk/Virginia Beach, Virginia (+38.0% to US$53.24); Atlanta, Georgia (+28.1% to US$100.60); St. Louis, Missouri-Illinois (+26.7% to US$88.10); Nashville, Tennessee (+12.8% to US$113.27); Phoenix, Arizona (+12.7% to US$78.08); and Los Angeles/Long Beach, California (+11.4% to US$145.20).

Three of those markets joined Minneapolis/St. Paul with a double-digit rise in ADR: Atlanta (+16.2% to US$125.47), St. Louis (+12.6% to US$112.56) and Norfolk/Virginia Beach (+12.1% to US$94.14).

Norfolk/Virginia Beach saw the largest increase in occupancy for the week, up 23.1% to 56.6%. Three other markets posted a double-digit increase in the metric: St. Louis (+12.5% to 78.3%), Minneapolis/St. Paul (+10.9% to 85.7%) and Atlanta (+10.3% to 80.2%).

New York, New York, reported the steepest declines in ADR (-18.9% to US$308.89) and RevPAR (-20.3% to US$278.58). Occupancy in the market dipped 1.7% to 90.2%.

Houston, Texas, was the only other Top 25 Market to show a double-digit decrease in RevPAR (-10.9% to US$64.84).

Anaheim/Santa Ana, California, reported the largest drop in occupancy (-8.8% to 77.5%).

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