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STR: US hotel results for week ending 27 February

March 8, 2016 Hotel Trends No Comments Print Print Email Email

The U.S. hotel industry reported mostly positive results in the three key performance metrics during the week of 21-27 February 2016, according to data from STR.http://www.destination-asia.com/

In year-over-year comparisons, the industry’s occupancy was nearly flat (-0.2% to 64.2%). Average daily rate for the week was up 3.3% to US$119.50, and revenue per available room increased 3.1% to US$76.76.

Among the Top 25 Markets, Los Angeles/Long Beach, California, posted the only double-digit rise in ADR (+15.7% to US$175.97) as well as the largest increase in RevPAR (+18.7% to US$146.47). Occupancy in the market grew 2.5% to 83.2%.

Three additional markets saw RevPAR increase by double figures: Anaheim/Santa Ana, California (+15.1% to US$112.00); Norfolk/Virginia Beach, Virginia (+11.9% to US$36.80); and Detroit, Michigan (+10.3% to US$61.63).

Norfolk/Virginia Beach (+6.7% to 48.7%) and Anaheim/Santa Ana (+6.6% to 78.9%) experienced the largest increases in occupancy.

Miami/Hialeah, Florida, reported the largest declines in each of the three key performance metrics. Occupancy in the market fell 7.8% to 83.7%; ADR was down 4.0% to US$242.58; and RevPAR dropped 11.5% to US$203.13.

No other market saw a double-digit decrease in RevPAR.

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