STR: US hotel results for week ending 7 October

US hotel,US hotel results,STR,US hotel industry,STR: US hotel results for week ending 7 October

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 1-7 October 2017, according to data from STR.

In comparison with the week of 2-8 October 2016, the industry recorded the following:

Occupancy: +0.9% to 71.4%

Average daily rate (ADR): +2.0% to US$130.92

Revenue per available room (RevPAR): +3.0% to US$93.51

Among the Top 25 Markets, Houston, Texas, once again reported the largest year-over-year increases in occupancy (+45.0% to 85.9%) and RevPAR (+66.0% to US$99.25). With a spike in post-Hurricane Harvey demand, Houston also posted the second-largest ADR increase (+14.5% to US$115.51).

Four additional Top 25 Markets reported double-digit increases in RevPAR: Miami/Hialeah, Florida (+34.4% to US$119.68); Orlando, Florida (+32.8% to US$109.55); Norfolk/Virginia Beach, Virginia (+27.2% to US$57.86); and San Diego, California (+10.6% to US$129.66).

Three of those markets recorded a double-digit increase in occupancy for the week: Miami/Hialeah (+27.1% to 75.3%), Norfolk/Virginia Beach (+18.6% to 61.2%) and Orlando (+14.9% to 82.8%).

Orlando posted the highest lift in ADR (+15.6% to US$132.25). Nashville, Tennessee (+10.3% to US$162.49), was the third and final market to register double-digit growth in the metric.

New Orleans, Louisiana, saw the largest decreases in occupancy (-19.6% to 58.2%) and RevPAR (-25.8% to US$78.49).

Minneapolis/St. Paul, Minnesota-Wisconsin, reported the steepest decline in ADR (-11.7% to US$125.43), that coupled with the second-largest decrease in occupancy (-13.4% to 75.1%), led to the second-largest drop in RevPAR (-23.6% to US$94.14).

Two additional Top 25 markets reported a double-digit decrease in RevPAR: St. Louis, Missouri-Illinois (-15.1% to US$68.81), and Atlanta, Georgia (-10.3% to US$79.76).