The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 14-20 October 2018, according to data from STR.
In comparison with the week of 15-21 October 2017, the industry recorded the following:
• Occupancy: +0.4% to 73.2%
• Average daily rate (ADR): +3.2% to US$135.67
• Revenue per available room (RevPAR): +3.6% to US$99.32
Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, registered the largest increase in RevPAR (+16.8% to US$70.89), due primarily to the highest rise in occupancy (+9.0% to 71.9%).
Orlando, Florida, posted the largest lift in ADR (+16.7% to US$145.12), resulting in the second-largest jump in RevPAR (+15.9% to US$120.15).
San Francisco/San Mateo, California, saw the second-largest increase in ADR (+14.6% to US$279.85) and the third-highest increase in RevPAR (+15.4% to US$249.50).
Overall, 17 of the Top 25 Markets reported an increase in RevPAR.
Houston, Texas, registered the steepest declines in each of the three key performance metrics: occupancy (-23.8% to 66.0%), ADR (-8.8% to US$107.41) and RevPAR (-30.6% to US$70.85). Houston’s hotel performance was lifted in the weeks and months that followed Hurricane Harvey in 2017 as properties filled with displaced residents, relief workers, insurance adjustors, media members, etc.
New Orleans, Louisiana, posted the second-largest decrease in both ADR (-7.1% to US$163.43) and RevPAR (-12.8% to US$121.01).
Miami/Hialeah, Florida, experienced the only other double-digit decline in occupancy (-10.3% to 68.9%).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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