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STR: US hotel results for week ending 12 November

November 21, 2016 Hotel Trends No Comments Email Email

The U.S. hotel industry reported positive results in the three key performance metrics during the week of 6-12 November 2016, according to data from STR.

In year-over-year comparisons, the industry’s occupancy rose 1.6% to 65.3%. Average daily rate (ADR) increased 3.3% to US$122.70. Revenue per available room (RevPAR) grew 5.0% to US$80.16.

Seven Top 25 Markets reported a double-digit RevPAR increase, three of which posted an increase of more than 15.0% in the metric: Seattle, Washington (+18.3% to US$123.56); Nashville, Tennessee (+16.7% to US$114.91); and Norfolk/Virginia Beach, Virginia (+15.7% to US$47.71).

Three markets recorded a double-digit rise in ADR for the week: New Orleans, Louisiana (+10.9% to US$163.90); Nashville (+10.6% to US$145.87); and Chicago, Illinois (+10.4% to US$168.40).

Two markets saw a double-digit lift in occupancy: Norfolk/Virginia Beach (+11.5% to 56.5%) and Seattle (+10.1% to 83.1%).

Houston, Texas, reported the steepest declines in occupancy (-12.8% to 63.0%) and RevPAR (-19.0% to US$66.04).

Four additional markets experienced a double-digit decrease in RevPAR: Miami/Hialeah, Florida (-14.6% to US$129.35); Denver, Colorado (-13.4% to US$81.02); San Francisco/San Mateo, California (-13.2% to US$185.35); and Oahu Island, Hawaii (-10.2% to US$180.43).

San Francisco/San Mateo was the only Top 25 Market to report a double-digit drop in ADR (-10.2% to US$214.29).

After Houston, only one other market saw a double-digit decline in occupancy: Denver (-10.0% to 67.1%).

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