The U.S. hotel industry reported positive results in the three key performance metrics during the week of 19-25 February 2017, according to data from STR.
In a year-over-year comparison with the week of 21-27 February 2016:
- Occupancy: +2.3% to 65.6%
- Average daily rate (ADR): +3.7% to US$124.37
- Revenue per available room (RevPAR): +6.1% to US$81.56
STR analysts note that the President’s Day calendar shift from 15 February 2016 to 20 February 2017 helped the week’s performance growth, specifically with leisure travel on Sunday.
Among the Top 25 Markets, Orlando, Florida, recorded the largest year-over-year increases in occupancy (+17.2% to 93.5%) and RevPAR (+37.0% to US$140.75). ADR in the market rose 16.9% to US$150.51.
New Orleans, Louisiana, posted the week’s largest rise in ADR (+30.0% to US$202.76), driving the second-largest lift in RevPAR (+30.6% to US$156.83).
Four additional markets saw a double-digit RevPAR increase: Norfolk/Virginia Beach, Virginia (+18.3% to US$45.81); San Diego, California (+13.5% to US$125.77); Phoenix, Arizona (+11.7% to US$153.92); and Tampa/St. Petersburg, Florida (+10.0% to US$132.03).
Houston, Texas, reported the only double-digit decrease in occupancy (-10.7% to 65.5%) and the largest drop in RevPAR (-17.5% to US$71.78). ADR in the market fell 7.6% to US$109.64.
Washington, D.C.-Maryland-Virginia, reported the largest decrease in ADR (-8.7% to US$135.98) and the second-largest decline in RevPAR (-16.5% to US$83.76).
Three other markets experienced a double-digit drop in RevPAR for the week: Boston, Massachusetts (-15.6% to US$83.59); Atlanta, Georgia (-13.3% to US$71.92); and Minneapolis/St. Paul-Minnesota-Wisconsin (-10.7% to US$61.16).
STR provides clients from multiple market sectors with premium, global data benchmarking, 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. For more information, please visit str.com.
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