Date: September 2018
Who Said: STR
What: The U.S. hotel industry reported mostly negative year-over-year results in the three key performance metrics during the week of 2-8 September 2018, according to data from STR.
In comparison with the week of 3-9 September 2017, the industry recorded the following:
• Occupancy: -3.5% to 61.7%
• Average daily rate (ADR): +1.0% to US$121.95
• Revenue per available room (RevPAR): -2.4% to US$75.25
STR analysts note that performance percentage changes in several major markets were significantly affected by the comparison with the post-Hurricane Harvey and pre-Hurricane Irma time period in 2017.
Among the Top 25 Markets, Miami/Hialeah, Florida, registered the only double-digit increase in occupancy (+35.6% to 60.6%) and the largest jump in RevPAR (+46.0% to US$84.15). The market reported the second-highest lift in ADR (+7.7% to US$138.94).
Boston, Massachusetts, posted the largest increase in ADR (+8.2% to US$210.35).
Phoenix, Arizona, saw the second-largest jump in RevPAR (+17.1% to US$52.79), due primarily to the second-highest rise in occupancy (+8.8% to 56.4%).
Houston, Texas, reported the steepest decreases in each of the three key performance metrics: occupancy (-42.2% to 50.0%), ADR (-19.6% to US$90.73) and RevPAR (-53.6% to US$45.36). 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.
Atlanta, Georgia, registered the second-largest declines in occupancy (-18.7% to 58.9%) and ADR (-9.2% to US$98.46), which resulted in the second-largest drop in RevPAR (-26.2% to US$57.97).
Dallas, Texas, experienced the only other double-digit drop in occupancy (-10.5% to 57.3%).
Overall, 14 of the Top 25 markets saw decreases in RevPAR.
STR provides clients from multiple market sectors with premium, global data bench-marking, analytics and marketplace insights.
Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England.
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First Seen: Hotel News Resource