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STR: US hotel results for week ending 26 March

April 2, 2016 Hotel Trends No Comments Email Email

The U.S. hotel industry reported mostly negative year-over-year results in the three key performance metrics during the week of 20-26 March 2016, according to data from STR.http://www.tourismlegal.com.au/

Affected by the Easter calendar shift from 5 April 2015 to 27 March 2016, the industry’s occupancy fell 5.6% to 65.5%. Average daily rate for the week was up 1.3% to US$123.57. Revenue per available room decreased 4.4% to US$80.96.

Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, posted the largest year-over-year increases in each of the three key performance metrics. Occupancy in the market grew 8.8% to 60.3%; ADR was up 8.5% to US$87.21; and RevPAR increased 18.0% to US$52.61.

Anaheim/Santa Ana, California, was the only other market to experience a double-digit lift in RevPAR, up 11.5% to US$136.13.

Five markets saw a drop in RevPAR of more than 15.0%: Chicago, Illinois (-22.7% to US$69.29); Houston, Texas (-22.7% to US$66.19); St. Louis, Missouri (-20.4% to US$56.18); New Orleans, Louisiana (-18.2% to US$113.75); and Denver, Colorado (-15.4% to US$74.10).

Chicago was the only market to report a double-digit decrease in ADR, down 11.1% to US$114.50.

Four markets experienced a double-digit decline in occupancy: Houston (-18.0% to 62.1%), St. Louis (-13.4% to 61.4%), Chicago (-13.1% to 60.5%) and Minneapolis/St. Paul, Minnesota-Wisconsin (-11.6% to 56.7%).

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