The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 26 November through 2 December 2017, according to data from STR.
In comparison with the week of 27 November through 3 December 2016, the industry recorded the following:
• Occupancy: +1.3% to 56.6%
• Average daily rate (ADR): +0.2% to US$117.82
• Revenue per available room (RevPAR): +1.5% to US$66.71
Among the Top 25 Markets, Houston, Texas, reported the largest increase in RevPAR (+33.1% to US$74.18), due primarily to the highest rise in occupancy (+25.5% to 68.6%). Performance in the market continues to be boosted by post-Hurricane Harvey demand.
Tampa/St. Petersburg, Florida, posted the highest lift in ADR (+7.9% to US$113.10).
Orlando, Florida, experienced the second-highest increases in occupancy (+9.6% to 72.2%) and RevPAR (+15.7% to US$83.65).
Overall, five of the Top 25 Markets reported double-digit growth in RevPAR.
Mostly due to a calendar shift around Art Basel, Miami/Hialeah, Florida, reported the steepest declines in ADR (-31.4% to US$175.86) and RevPAR (-34.6% to US$132.52).
San Diego, California, saw the second-largest decrease in RevPAR (-20.9% to US$80.13), due primarily to the second-largest decrease in ADR (-17.6% to US$129.95).
Minneapolis/St. Paul, Minnesota-Wisconsin, experienced the largest decrease in occupancy (-8.7% to 56.7%).
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.
Logos, product and company names mentioned are the property of their respective owners.