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STR: US hotel results for week ending 15 October

October 24, 2016 Hotel Trends No Comments Print Print Email Email

The U.S. hotel industry reported negative results in the three key performance metrics during the week of 9-15 October 2016, according to data fromSTR.http://www.stevecafeandcuisine.com/

In year-over-year comparisons, the industry’s occupancy decreased 1.4% to 70.7%. Average daily rate (ADR) was nearly flat (-0.2% to US$123.84). Revenue per available room (RevPAR) fell 1.6% to US$87.57.

STR analysts note that overall performance for the week was affected by the Yom Kippur calendar shift from 23 September 2015 to 12 October 2016.

Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, saw the week’s only double-digit increase in occupancy (+16.1% to 65.9%) and the largest lift in RevPAR (+20.7% to US$60.22). ADR in the market rose 4.0% to US$91.45.

Tampa/St. Petersburg, Florida, posted the only double-digit increase in ADR (+10.6% to US$120.24) along with the only other double-digit rise in RevPAR (+10.9% to US$85.89).

Houston, Texas, reported the steepest declines across the three key performance metrics. Occupancy in the market dropped 19.4% to 62.1%; ADR was down 14.7% to US$102.57; and RevPAR fell 31.3% to US$63.71.

Five additional markets experienced a double-digit decrease in RevPAR: Miami/Hialeah, Florida (-17.9% to US$105.33); San Francisco/San Mateo, California (-15.9% to US$194.12); Dallas, Texas (-15.0% to US$76.40); Boston, Massachusetts (-13.8% to US$168.42); and New York, New York (-12.7% to US$250.24).

After Houston, two markets reported a double-digit decrease in ADR: San Francisco/San Mateo (-12.6% to US$224.78) and New York (-10.2% to US$284.08).

Two other markets saw a double-digit decline in occupancy as well: Miami/Hialeah (-12.7% to 66.4%) and Dallas, Texas (-11.2% to 72.0%).

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