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STR: US hotel results for week ending 30 July

August 8, 2016 Hotel Trends No Comments Email Email

The U.S. hotel industry reported mostly positive results in the three key performance metrics during the week of 24-30 July 2016, according to data fromSTR.http://www.kirimaya.com/resorts/

In year-over-year comparisons, the industry’s occupancy was nearly flat, decreasing 0.2% to 77.3%. However, average daily rate was up 4.6% to US$130.20, and revenue per available room increased 4.4% to US$100.65.

Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, recorded the largest year-over-year increases across the three key performance metrics. Host to the 2016 Democratic National Convention, Philadelphia posted a 10.6% lift in occupancy to 86.2%, a 92.6% rise in ADR to US$235.37 and a 113.1% spike in RevPAR to US$202.84.

Four additional markets saw double-digit growth in RevPAR for the week: Dallas, Texas (+16.2% to US$80.70); Nashville, Tennessee (+14.7% to US$115.39); Tampa/St. Petersburg, Florida (+13.9% to US$88.71); and Chicago, Illinois (+12.5% to US$144.70).

After Philadelphia, only one other market posted a double-digit rise in ADR: Nashville (+10.6% to US$139.02).

No market outside of Philadelphia experienced a double-digit increase in occupancy.

St. Louis, Missouri-Illinois, reported the only double-digit decline in occupancy (-11.3% to 74.1%) as well as the largest decrease in RevPAR (-15.5% to US$74.62).

Two other markets reported a double-digit decrease in RevPAR: Houston, Texas (-14.3% to US$64.83), and New Orleans, Louisiana (-11.0% to US$72.82).

Houston reported the largest drop in ADR, down 6.2% to US$100.31.

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