The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 8-14 October 2017, according to data from STR.
In comparison with the week of 9-15 October 2016, the industry recorded the following:
- Occupancy: +2.4% to 72.3%
- Average daily rate (ADR): +5.3% to US$130.83
- Revenue per available room (RevPAR): +7.8% to US$94.58
STR analysts note that U.S. performance growth was lifted due to a comparison with a Jewish holiday time period last year.
Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year increases in occupancy (+37.3% to 85.2%) and RevPAR (+57.0% to US$99.76).
Two additional markets saw RevPAR growth of more than 25.0% for the week: Washington, D.C.-Maryland-Virginia (+36.3% to US$160.43), and Dallas, Texas (+26.2% to US$96.26). Overall, 11 Top 25 Markets posted a double-digit lift in the metric.
Washington, D.C. posted the highest jump in ADR (+23.3% to US$196.22), followed by Houston (+14.4% to US$117.02) and Dallas (+14.3% to US$121.16). In total, six Top 25 Markets registered double-digit growth in the metric.
After Houston, three other markets experienced a double-digit rise in occupancy: Miami/Hialeah, Florida (+15.9% to 77.2%), Washington, D.C. (+10.6% to 81.8%) and Dallas (+10.4% to 79.4%).
Norfolk/Virginia Beach, Virginia, reported the steepest declines in occupancy (-8.6% to 60.2%) and RevPAR (-8.1% to US$55.52).
Tampa/St. Petersburg, Florida, reported the largest decrease in ADR (-4.5% to US$115.54).
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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