Outsourcing your hotel accounting is an unintelligent move, that is my opinion and I am going to make my case right here. When I refer to outsourcing, I am talking about a third party provider, not a centralized function.
The Baird/STR Hotel Stock Index increased 2.1% in July, closing the month at 4,177. Year to date through July, the index was up 12.8%.
Same-Property RevPAR decreased 1.4% compared to the second quarter of 2016 to $166.18, as occupancy decreased 120 basis points and ADR increased 0.1%. Excluding the Company's Houston-area hotels, Same-Property RevPAR increased 0.3%, as occupancy declined 4 basis points and ADR increased 0.4%.
3.7% net room growth year on year, with 23k room openings, up 31% year on year, which includes 3.5k rooms in Makkah, Saudi Arabia, signed in 2015.