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STR: US hotel results for week ending 28 May

June 11, 2016 Hotel Trends No Comments Email Email

The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 22-28 May 2016, according to data from STR.http://www.rembrandtbkk.com/

In comparison with the week that included Memorial Day 2015, the industry’s occupancy increased 10.6% to 70.1%. Average daily rate was up 7.7% to US$124.08. Revenue per available room grew 19.1% to US$86.95.

Among the Top 25 Markets, Tampa/St. Petersburg, Florida, reported the largest year-over-year increases in occupancy (+21.0% to 77.6%) and RevPAR (+41.7% to US$97.78). ADR in the market was up 17.1% to US$125.95.

Four additional markets saw a RevPAR increase by more than 30.0%: Atlanta, Georgia (+37.7% to US$74.76); Washington, D.C.-Maryland-Virginia (+36.3% to US$137.99); Phoenix, Arizona (+35.4% to US$67.48); and Denver, Colorado (+32.7% to US$107.04).

Overall, all of the Top 25 Markets reported positive RevPAR performance for the week, and 21 of those markets experienced a double-digit lift in the metric.

The largest increases in ADR were reported in San Francisco/San Mateo, California (+17.3% to US$233.18), and Atlanta (+17.3% to US$101.97). Overall, 11 of the Top 25 Markets reported a double-digit ADR increase.

Chicago, Illinois (-3.5% to US$159.37), was the only Top 25 Market to report a drop in ADR for the week.

After Tampa/St. Petersburg, four other markets experienced an occupancy increase above 15.0%: Washington, D.C. (+18.5% to 85.4%); Phoenix (+18.0% to 64.4%); Atlanta (+17.4% to 73.3%); and Philadelphia, Pennsylvania-New Jersey (+15.5% to 74.1%).

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