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STR: US hotel results for week ending 17 December

December 28, 2016 Hotel Trends No Comments Email Email

The U.S. hotel industry recorded positive results in the three key performance metrics during the week of 11-17 December 2016, according to data from STR.In year-over-year comparisons, the industry’s occupancy increased 4.7% to 54.0%, and average daily rate (ADR) was up 4.8% to US$111.59. As a result, revenue per available room (RevPAR) grew 9.7% to US$60.31.

Among the Top 25 Markets, Washington, D.C.-Maryland-Virginia, posted the largest increases in occupancy (+20.2% to 62.1%) and RevPAR (+34.6% to US$85.31).

Three additional markets experienced RevPAR growth of more than 20.0% in year-over-year comparisons: Detroit, Michigan (+22.4% to US$58.65); Nashville, Tennessee (+21.6% to US$71.27); and New York, New York (+20.3% to US$250.75). Overall, 16 of the Top 25 Markets saw a double-digit lift in RevPAR for the week.

New York (+13.1% to US$277.33) registered the largest rise in ADR, followed by Washington, D.C. (+12.0% to US$137.31) and Nashville (+10.2% to US$117.27).

After Washington, D.C., seven other markets saw a double-digit lift in occupancy. Detroit (+15.2% to 61.0%) was the only one of those markets to report an increase of more than 15.0% in the metric.

Oahu Island, Hawaii, reported the steepest declines across the three key metrics. Occupancy fell 15.4% to 77.1%, ADR was down 4.9% to US$212.16 and RevPAR dropped 19.6% to US$163.59.

The only other double-digit decrease in the metrics came in Miami/Hialeah, Florida (RevPAR: -10.2% to US$100.05).

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