The U.S. hotel industry recorded mixed results in the three key performance measurements during the week of 29 March through 4 April 2015, according to data from STR, Inc.In year-over-year measurements, the industry’s occupancy decreased 4.0 percent to 62.9 percent. Average daily rate increased 3.4 percent to finish the week at US$116.01. Revenue per available room for the week was down 0.7 percent to finish at US$72.93.
“The industrywide decline in RevPAR was driven by softness related to Passover and Easter,” said Brad Garner, STR’s senior VP for client relationships. “This was the first time in 49 weeks that U.S. RevPAR was negative for a week—the longest stretch of positive weekly RevPAR growth STR has ever tracked. The last time RevPAR went negative for a week (-0.3 percent) was the week heading into Passover and Easter in 2014. We would anticipate a quick RevPAR return to normalcy and another positive streak into the foreseeable future. STR is projecting an annual RevPAR increase of 6.4 percent in 2015.”
Five of the Top 25 Markets reported RevPAR increases of at least 15.0 percent: Miami/Hialeah, Florida (+22.7 percent to US$214.17); Orlando, Florida (+20.5 percent to US$103.11); Norfolk/Virginia Beach, Virginia (+19.1 percent to US$47.43); Anaheim/Santa Ana, California (+19.0 percent to US$118.28); and Oahu Island, Hawaii (+15.5 percent to US$170.75).
Six markets reported RevPAR decreases of more than 20.0 percent for the week: Dallas, Texas (-29.1 percent to US$56.71); New Orleans, Louisiana (-28.8 percent to US$93.48); St. Louis, Missouri-Illinois (-24.9 percent to US$51.30); Chicago, Illinois (-22.0 percent to US$64.88); Houston, Texas (-21.0 percent to US$65.49); and Philadelphia, Pennsylvania-New Jersey (-20.2 percent to US$70.89).
Two markets recorded double-digit ADR increases during the week: Miami/Hialeah (+19.6 percent to US$261.17) and Tampa/St. Petersburg, Florida (+12.6 percent to US$142.00).
Three markets reported double-digit ADR decreases for the week: Dallas (-18.9 percent to US$89.57); New Orleans (-18.1 percent to US$134.05); and Philadelphia (-11.5 percent to US$114.83).
Two markets recorded double-digit occupancy increases: Orlando (+11.5 percent to 83.7 percent) and Norfolk/Virginia Beach (+10.4 percent to 57.0 percent).
Four markets reported occupancy decreases of more than 15.0 percent: St. Louis (-19.7 percent to 56.9 percent); Houston (-17.2 percent to 63.5 percent); Minneapolis/St. Paul, Minnesota-Wisconsin (-15.2 percent to 54.2 percent); and Denver, Colorado (-15.1 percent to 59.9 percent).