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STR: US hotel results for week ending 9 July

July 16, 2016 Hotel Trends No Comments Email Email

The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 3-9 July 2016, according to data from STR. comparison with a full 2015 week that did not include the Fourth of July, the industry’s occupancy decreased 6.4% to 67.4%. Average daily rate was up 1.3% to US$121.11. Revenue per available room fell 5.2% to US$81.59.

Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, recorded the largest year-over-year increase in RevPAR (+9.4% to US$98.39).

Tampa/St. Petersburg, Florida, posted the largest rise in ADR (+8.2% to US$114.98).

Overall, six of the Top 25 Markets experienced RevPAR growth, while 12 markets reported a rise in ADR.

Of the three markets to report occupancy growth for the week, Oahu Island, Hawaii (+2.0% to 91.1%), reported the largest increase in the metric.

Minneapolis/St. Paul, Minnesota-Wisconsin, saw the steepest declines in occupancy (-23.5% to 60.6%) and RevPAR (-31.8% to US$62.70).

Five additional markets experienced a RevPAR decrease of 20.0% or higher: Houston, Texas (-30.0% to US$48.25); Atlanta, Georgia (-27.6% to US$61.35); Chicago, Illinois (-27.3% to US$87.68); Boston, Massachusetts (-21.2% to US$128.74); and San Diego, California (-20.0% to US$138.71).

San Diego reported the steepest drop in ADR, down 19.2% to US$173.92.

Four other markets reported a double-digit drop in ADR: Chicago (-13.8% to US$127.71); Houston (-12.9% to US$89.68); Atlanta (-11.5% to US$93.74); and Minneapolis/St. Paul (-10.8% to US$103.41).

After Minneapolis/St. Paul, three markets experienced an occupancy decrease of more than 15.0%: Houston (-19.7% to 53.8%); Atlanta (-18.2% to 65.4); and Chicago (-15.7% to 68.7%).

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