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STR: US hotel results for week ending 6 August

August 15, 2016 Hotel Trends No Comments Email Email

The U.S. hotel industry reported mixed results in the three key performance metrics during the week of 31 July through 6 August 2016, according to data from STR.

In year-over-year comparisons, the industry’s occupancy decreased 1.6% to 75.6%. However, average daily rate was up 2.7% to US$127.69, and revenue per available room increased 1.1% to US$96.59.

Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, recorded the largest year-over-year increases across the three key performance metrics. Occupancy in the market rose 10.4% to 81.9%; ADR was up 23.2% to US$146.44; and RevPAR grew 35.9% to US$119.97.

Four additional markets saw a double-digit increase in RevPAR for the week: St. Louis, Missouri-Illinois (+25.6% to US$88.73); Tampa/St. Petersburg, Florida (+14.5% to US$83.95); San Diego, California (+12.6% to US$172.50); and Denver, Colorado (+10.2% to US$127.41).

Norfolk/Virginia Beach, Virginia (-9.8% to US$104.72), reported the largest decrease in RevPAR.

After Philadelphia, two markets posted a double-digit rise in ADR: St. Louis (+13.9% to US$108.83) and Denver (+10.5% to US$141.46).

New York, New York (-3.7% to US$246.75), and Houston, Texas (-3.0% to US$98.23), reported the largest decreases in ADR.

St. Louis was the only other market to experience a double-digit increase in occupancy (+10.3% to 81.5%).

Norfolk/Virginia Beach (-9.3% to 78.5%) and Orlando, Florida (-7.7% to 76.8%), experienced the largest occupancy declines.

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