U.S. Hotel Industry Reported Strong Performance Increases for Summer 2012
During the summer season the U.S. hotel industry’s occupancy rose 2.4 percent to 69.3 percent, its average daily rate increased 4.4 percent to US$107.37, and its revenue per available room was up 7.0 percent to US$74.44.
The U.S. hotel industry reported strong performance increases in the three key performance metrics during summer 2012, according to data from STR.
During the summer season—which comprises June, July and August—the U.S. hotel industry’s occupancy rose 2.4 percent to 69.3 percent, its average daily rate increased 4.4 percent to US$107.37, and its revenue per available room was up 7.0 percent to US$74.44.
“We continue to be surprised by the consistent growth in demand for hotel rooms,” said Brad Garner, STR’s COO. “While the rate of growth in rooms sold is likely to taper, the industry continues to move into a favorable pricing position. The higher contribution of room rate into RevPAR should lead to higher profitability for the industry at large.”
Supply was up 0.5 percent during the summer while demand increased 2.9 percent.
About STR
STR (www.str.com) provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering the United States, Canada, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, global pipelines and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com.
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