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STR: US hotel results for week ending 7 January

January 16, 2017 Hotel Trends No Comments Email Email

The U.S. hotel industry reported mixed results in the three key performance metrics during the week of 1-7 January 2017, according to data from STR.

In year-over-year comparisons, the industry’s occupancy fell 3.2% to 47.1%.  However, average daily rate (ADR) rose 4.5% to US$117.08, and revenue per available room (RevPAR) increased 1.1% to US$55.13.

Among the Top 25 Markets, New Orleans, Louisiana, recorded the largest year-over-year increases in occupancy (+23.5% to 56.9%) and RevPAR (+49.1% to US$81.76). ADR in the market was up 20.7% to US$143.66.

Six additional markets experienced double-digit growth in RevPAR year over year: Tampa/St. Petersburg, Florida (+28.7% to US$82.03); Oahu Island, Hawaii (+28.6% to US$231.50); New York, New York (+18.3% to US$128.46); Orlando, Florida (+11.6% to US$85.71); Los Angeles/Long Beach, California (+10.6% to US$112.17); and Anaheim/Santa Ana, California (+10.2% to US$87.22).

Oahu Island posted the largest year-over-year increase in ADR (+24.4% to US$286.86). Other than the aforementioned New Orleans, one other market reported double-digit growth in the metric: Tampa/St. Petersburg (+22.1% to US$131.80).

New York was the only other market to report a double-digit lift in occupancy (+12.2% to 71.3%) for the week.

Houston, Texas, reported the steepest declines across the three key performance metrics. Occupancy fell 17.0% to 42.5%, ADR was down 11.5% to US$86.17 and RevPAR dropped 26.5% to US$36.65.

Two other markets saw a decrease in RevPAR of 20.0% or more: Boston, Massachusetts (-23.2% to US$53.20), and San Francisco/San Mateo, California (-20.7% to US$97.73). Overall, eight Top 25 Markets reported a double-digit decline in the metric.

While no market outside of Houston reported a double-digit decrease in ADR, an additional six did report a double-digit drop in occupancy. Three of those six markets experienced an occupancy decrease of 15.0% or more: Boston (-16.4% to 41.6%); San Francisco/San Mateo (-15.5% to 59.0%); and Dallas, Texas (-15.4% to 51.5%).

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