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STR: US hotel results for week ending 31 December

January 10, 2017 Hotel Trends No Comments Email Email

The U.S. hotel industry recorded mostly positive results in the three key performance metrics during the week of 25-31 December 2016, according to data from STR.http://www.deevanahotels.com/

In year-over-year comparisons, the industry’s occupancy was nearly flat (-0.2% to 54.5%). However, average daily rate (ADR) rose 2.2% to US$132.79, and revenue per available room (RevPAR) increased 2.0% to US$72.38.

Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, saw the only double-digit increase in occupancy (+15.2% to 48.8%) and the largest increase in RevPAR (+20.5% to US$43.99). ADR in the market was up 4.6% to US$90.11.

Three additional markets experienced a double-digit lift in RevPAR for the week: Washington, D.C.-Maryland- Virginia (+15.8% to US$52.67), Minneapolis/St. Paul, Minnesota-Wisconsin (+13.2% to US$45.96); and Phoenix, Arizona (+11.1% to US$71.32).

Minneapolis/St. Paul was the only Top 25 Market to report a double-digit increase in ADR (+10.6% to US$100.73).

New Orleans, Louisiana, reported the steepest declines in ADR (-17.7% to US$145.21) and RevPAR (-27.9% to US$92.83).

Three others markets saw a double-digit drop in RevPAR: Dallas, Texas (-15.8% to US$41.25); Houston, Texas (-15.4% to US$33.69); and Miami/Hialeah, Florida (-15.1% to US$262.55).

Miami was the only other market to report a double-digit decrease in ADR (-10.3% to US$313.06).

Four markets saw a double-digit decline in occupancy: St. Louis, Missouri-Illinois (-13.7 to 47.0%); Dallas (-13.2% to 48.7%); New Orleans (-12.5% to 63.9%); and Houston (-10.3% to 41.6%).

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