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STR: US hotel results for week ending 28 October

Column: industry Tag: US hotel,US hotel results,US hotel industry Published: 2017-11-03 10:54 Source: Author:

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 22-28 October 2017, according to data from STR.

In comparison with the week of 23-29 October 2016, the industry recorded the following:

Occupancy: +4.0% to 69.8%

Average daily rate (ADR): +2.6% to US$129.44

Revenue per available room (RevPAR): +6.7% to US$90.32

Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year increases in occupancy (+34.9% to 85.9%), ADR (+14.0% to US$120.89) and RevPAR (+53.8% to US$103.82). Post-Hurricane Harvey demand continues to drive performance levels in the market.

Tampa/St. Petersburg, Florida, experienced the second-highest increase in occupancy (+13.4% to 77.7%) and the second-largest rise in RevPAR (+23.9% to US$94.42).

Overall, nine of the Top 25 Markets reported double-digit RevPAR growth.

Detroit, Michigan, posted the only other double-digit increase in ADR (+12.2% to US$112.31).

New Orleans, Louisiana, reported the steepest decline in RevPAR (-20.1% to US$122.73), due primarily to the week’s only double-digit drop in occupancy (-13.0% to 73.5%).

Two markets reported decreases in ADR: Chicago, Illinois (-8.9% to US$155.91), and New Orleans (-8.1% to US$166.91).

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