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STR: US hotel results for week ending 30 April

May 9, 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 24-30 April 2016, according to data from STR.http://www.banyantree.com/en/ap-thailand-phuket-resort

In year-over-year comparisons, the industry’s occupancy increased 1.5% to 68.0%. Average daily rate for the week was up 0.6% to US$121.15. Revenue per available room rose 2.2% to US$82.34.

Among the Top 25 Markets, St. Louis, Missouri-Illinois, posted the largest increases in ADR (+12.0% to US$114.08) and RevPAR (+27.0% to US$90.15). Occupancy in the market grew 13.4% to 79.0%.

Four additional markets experienced a RevPAR increase of 15.0% or larger: Norfolk/Virginia Beach, Virginia (+24.5% to US$60.18); Tampa/St. Petersburg, Florida (+18.6% to US$101.67); Minneapolis/St. Paul, Minnesota-Wisconsin (+17.8% to US$85.36); and Nashville, Tennessee (+15.9% to US$117.45).

Two Top 25 Markets saw a double-digit decline in RevPAR: San Francisco/San Mateo, California (-10.8% to US$178.90), and New York, New York (-10.1% to US$215.66).

After St. Louis, three other markets posted a double-digit lift in ADR: Nashville (+11.7% to US$145.40); Tampa/St. Petersburg (+10.2% to US$129.47); and Los Angeles/Long Beach, California (+10.1% to US$173.84).

New York (-7.2% to US$249.64) reported the largest ADR decrease for the week.

Norfolk/Virginia Beach experienced the largest increase in occupancy, up 14.0% to 63.5%. No other market after Norfolk/Virginia Beach and St. Louis saw a double-digit rise in the metric.

Atlanta, Georgia (-7.8% to 69.1%), reported the steepest decline in occupancy.

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