The U.S. hotel industry recorded positive results in the three key performance measurements during the week of 29 June through 5 July 2014, according to data from STR.
In year-over-year measurements, the industry’s occupancy rate increased 4.4 percent to 66.0 percent. Average daily rate increased 4.5 percent to finish the week at US$112.40. Revenue per available room for the week was up 9.0 percent to finish at US$74.14.
All Top 25 Markets, except Dallas, Texas (-1.8 percent to US$76.47), reported ADR growth for the week. Three markets achieved increases of more than 15.0 percent: Denver, Colorado (+26.4 percent to US$117.13); Nashville, Tennessee (+21.9 percent to US$110.43); and Minneapolis/St. Paul, Minnesota-Wisconsin (+18.3 percent to US$102.96).
Six markets experienced RevPAR increases of 30.0 percent or more: Minneapolis/St. Paul (+56.9 percent to US$71.91); Denver (+47.1 percent to US$103.95); Nashville (+41.0 percent to US$76.62); Houston, Texas (+35.5 percent to US$60.39); Boston, Massachusetts (+33.1 percent to US$122.29); and Seattle, Washington (+30.0 percent to US$110.24). Dallas fell 6.5 percent in RevPAR to US$41.72, reporting the largest decrease in that metric.
Minneapolis/St. Paul (+32.6 percent to 69.8 percent) and Houston (+22.6 percent to 66.2 percent) led the occupancy increases. San Diego, California (-5.6 percent to 76.3 percent) posted the largest occupancy decrease for the week.
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