The U.S. hotel industry posted declines in all three key performance measurements during the week of 22-28 February 2009, according to data from STR.
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In year-over-year measurements, the industry's occupancy fell 12.6 percent to end the week at 54.1 percent. Average daily rate dropped 6.8 percent to finish the week at US$100.54. Revenue per available room for the week decreased 18.5 percent to finish at US$54.37.
Among the Top 25 Markets, Norfolk-Virginia Beach, Virginia, and New Orleans, Louisiana, were the only two markets to report increases in any of the three key performance measurements. Norfolk-Virginia Beach experienced a 0.5 percent increase in ADR to end the week at US$73.54. New Orleans increased ADR 5.6 percent to US$131.11.
Other key performances from the Top 25 Markets include:
• Oahu Island, Hawaii, reported the smallest decrease in occupancy, falling 0.9 percent to end at 76.2 percent. Washington, D.C., was the only other market to report a decrease of less than 5 percent, as it was down 3.3 percent to 63.4 percent.
• New York, New York, reported the largest decrease in ADR, dropping 18.3 percent to US$189.73. Other markets down by more than 10 percent in ADR for the week include: Miami-Hialeah, Florida (-14.6 percent to US$174.72), Boston, Massachusetts (-13.2 percent to US$125.89), Orlando, Florida (-13.2 percent to US$107.95), Phoenix, Arizona (-12.9 percent to US$137.46), San Francisco/San Mateo, California (-12.8 percent to US$125.67), Atlanta, Georgia (-12.7 percent to US$86.30), and Tampa-St. Petersburg, Florida (-11.2 percent to US$110.47).
• Three markets reported decreases in RevPAR of less than 10 percent: Washington, D.C. (-5.6 percent to US$99.32), Norfolk-Virginia Beach (-4.6 percent to US$31.63), New Orleans (-1.5 percent to US$82.34).
• The largest decrease in RevPAR was reported by Atlanta, which experienced a 30.8-percent drop to US$45.08. Other markets that reported decreases of more than 25 percent include: Boston (-28.4 percent to US$63.93), New York (-27.9 percent to US$125.36), Orlando (-27.7 percent to US$69.18), Miami-Hialeah (-27.4 percent to US$131.65), Phoenix (-27.2 percent to US$91.27), Detroit, Michigan (-25.3 percent to US$34.83), and Tampa-St. Petersburg (-25.3 percent to US$71.98).
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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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