STR reports U.S. hotel performance for October 2009
The U.S. hotel industry posted declines in all three key performance measurements during October, according to data from STR.
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In year-over-year measurements, the industry's occupancy fell 6.2 percent to end the month at 58.1 percent. Average daily rate dropped 8.2 percent to finish the month at US$99.08. Revenue per available room for the month decreased 13.8 percent to finish at US$57.57.
"Transient occupancy continued the improvement it has shown in the recent months; however, this slight rebound has not resulted in any meaningful change in the rate of ADR declines," said Mark Lomanno, president of STR. "It appears it will take a few more months of better demand results before any pricing rebound occurs."
Among the Top 25 Markets, San Francisco/San Mateo, California, reported the largest occupancy increase, up 5.2 percent to 83.7 percent, followed by Oahu Island, Hawaii (+4.8 percent to 76.8 percent), and Minneapolis-St. Paul, Minnesota-Wisconsin (+3.8 percent to 63.3 percent). Two markets experienced double-digit occupancy decreases: Houston, Texas (-31.9 percent to 57.8 percent), and Dallas, Texas (-11.1 percent to 54.9 percent).
New Orleans, Louisiana, was the only market to report an ADR increase, rising 4.4 percent to US$123.04. Three markets posted ADR declines of more than 15 percent: New York, New York (-18.3 percent to US$254.36); Houston (-16.1 percent to US$91.99); and Tampa-St. Petersburg, Florida (-15.1 percent to US$85.93).
New Orleans reported the only RevPAR increase for the month, up 3.2 percent to US$78.53. Four markets experienced RevPAR declines of more than 20 percent: Houston (-42.9 percent to US$53.14); Seattle, Washington (-22.8 percent to US$65.89); Phoenix, Arizona (-21.6 percent to US$56.64); and Orlando, Florida (-20.3 percent to US$52.57).
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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