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STR: U.S. hotel results for week ending 13 October

October 22, 2018 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 7-13 October 2018, according to data from STR. http://www.tourismthailand.org/landing/landing_en.html

In comparison with the week of 8-14 October 2017, the industry recorded the following:

  • Occupancy: -0.7% to 71.9%
  • Average daily rate (ADR): +1.6% to US$132.76
  • Revenue per available room (RevPAR): +0.8% to US$95.42

Among the Top 25 Markets, New Orleans, Louisiana, registered the largest increase in RevPAR (+21.5% to US$135.87), driven by a double-digit rise in occupancy (+11.3% to 80.0%) and the largest jump in ADR (+9.1% to US$169.91).

Detroit, Michigan, experienced the highest lift in occupancy (+13.6% to 77.8%), resulting in the second-largest jump in RevPAR (+20.1% to US$85.36).

Nashville, Tennessee, posted the third-largest increase in RevPAR (+11.9% to US$145.70), due primarily to the second-largest lift in ADR (+6.2% to US$168.76).

Overall, 14 of the Top 25 Markets reported growth in RevPAR.

Due to difficult-to-match year-over-year comparisons, Houston, Texas, experienced the steepest declines in occupancy (-25.0% to 63.9%) and RevPAR (-31.3% to US$67.70). Houston’s hotel performance was lifted in the weeks and months that followed Hurricane Harvey in 2017 as properties filled with displaced residents, relief workers, insurance adjustors, media members, etc.

Washington, D.C.-Maryland-Virginia, posted the only double-digit drop in ADR (-12.5% to US$173.46), resulting in the second-largest decline in RevPAR (-17.0% to US$134.24).

Miami/Hialeah, Florida, saw the second-largest decrease in occupancy (-14.3% to 66.0%) and the third-largest drop in RevPAR (-16.0% to US$106.88).

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