Weekly U.S. Lodging Performance for the week ending August 9, 2008
The U.S. hotel industry posted declines in the key performance metrics of occupancy and revenue per available room during the week of 03 - 09 August, according to data from STR.
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In year-over-year measurements, the industry's occupancy fell 4.0 percent to end the week at 71.2 percent. Average daily rate increased 2.3 percent to finish the week at US$107.55. Revenue per available room for the week decreased 1.8 percent to finish at US$76.59.
'The initial August industry numbers show continued softness,' said Bobby Bowers, senior VP of operations at STR. 'More than two-thirds of the top 25 STR U.S. markets had occupancy declines last week.'
During the week of 03 - 09 August, every day showed year-over-year occupancy declines. RevPAR percent change during the week ranged from a low of -2.7 percent on Tuesday to a high of 0.4 percent on Friday.
About STR & STR Global
For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
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