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STR: US hotel results for week ending 7 May

May 16, 2016 Hotel Trends No Comments Email Email

The U.S. hotel industry recorded mixed results in the three key performance metrics during the week of 1-7 May 2016, according to data from STR.http://www.banyantree.com/en/ap-thailand-phuket-spa-sanctuary

In year-over-year comparisons, the industry’s occupancy decreased 1.6% to 65.8%. However, average daily rate for the week was up 2.1% to US$123.43, and revenue per available room increased 0.4% to US$81.19.

Among the Top 25 Markets, Los Angeles/Long Beach, California, posted the largest increases in ADR (+14.2% to US$171.52) and RevPAR (+17.5% to US$134.94). Occupancy in the market rose 2.9% to 78.7%.

Three additional markets reported double-digit growth in RevPAR: New Orleans, Louisiana (+15.4% to US$130.65); Dallas, Texas (+13.0% to US$79.17); and Philadelphia, Pennsylvania-New Jersey (+10.2% to US$107.37).

Three markets saw a double-decline in RevPAR: Chicago, Illinois (-24.0% to US$102.01); Houston, Texas (-23.9% to US$97.71); and Denver, Colorado (-12.5% to US$88.79).

After Los Angeles/Long Beach, only one other market posted a double-digit rise in ADR: San Francisco/San Mateo, California (+10.0% to US$230.12).

Two markets reported a double-digit drop in ADR: Houston (-17.8% to US$136.27) and Chicago (-14.2% to US$145.96).

Dallas experienced the largest lift in occupancy, up 6.5% to 73.3%.

Two markets saw a double-digit decrease in occupancy: Denver (-12.0% to 70.3%) and Chicago (-11.4% to 69.9%).

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