The U.S. hotel industry reported mostly positive results in the three key performance metrics during the week of 24-30 July 2016, according to data from STR.
In year-over-year comparisons, the industry’s occupancy was nearly flat, decreasing 0.2% to 77.3%. However, average daily rate was up 4.6% to US$130.20, and revenue per available room increased 4.4% to US$100.65.
Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, recorded the largest year-over-year increases across the three key performance metrics. Host to the 2016 Democratic National Convention, Philadelphia posted a 10.6% lift in occupancy to 86.2%, a 92.6% rise in ADR to US$235.37 and a 113.1% spike in RevPAR to US$202.84.
Four additional markets saw double-digit growth in RevPAR for the week: Dallas, Texas (+16.2% to US$80.70); Nashville, Tennessee (+14.7% to US$115.39); Tampa/St. Petersburg, Florida (+13.9% to US$88.71); and Chicago, Illinois (+12.5% to US$144.70).
After Philadelphia, only one other market posted a double-digit rise in ADR: Nashville (+10.6% to US$139.02).
No market outside of Philadelphia experienced a double-digit increase in occupancy.
St. Louis, Missouri-Illinois, reported the only double-digit decline in occupancy (-11.3% to 74.1%) as well as the largest decrease in RevPAR (-15.5% to US$74.62).
Two other markets reported a double-digit decrease in RevPAR: Houston, Texas (-14.3% to US$64.83), and New Orleans, Louisiana (-11.0% to US$72.82).
Houston reported the largest drop in ADR, down 6.2% to US$100.31.
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