The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 21-27 October 2018, according to data from STR.
In comparison with the week of 22-28 October 2017, the industry recorded the following:
• Occupancy: +1.2% to 70.7%
• Average daily rate (ADR): +4.0% to US$134.39
• Revenue per available room (RevPAR): +5.2% to US$95.02
Among the Top 25 Markets, New Orleans, Louisiana, registered the largest increases in occupancy (+18.3% to 86.3%) and RevPAR (+36.1% to US$164.95).
San Francisco/San Mateo, California, posted the largest lift in ADR (+26.8% to US$304.16), resulting in the second-largest increase in RevPAR (+29.4% to US$268.19).
Norfolk/Virginia Beach, Virginia, experienced the only other double-digit increase in occupancy (+11.3% to 67.7%) and the third-largest jump in RevPAR (+19.8% to US$63.35).
Overall, 18 of the Top 25 Markets reported an increase in RevPAR.
Houston, Texas, registered the steepest declines in occupancy (-18.5% to 69.9%) and RevPAR (-23.0% to US$79.01). 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.
Philadelphia, Pennsylvania-New Jersey, saw the largest drop in ADR (-7.1% to US$141.13) and the only other double-digit decrease in RevPAR (-11.7% to US$106.05).
Tampa/St. Petersburg, Florida, experienced the second-largest decline in occupancy (-7.5% to 71.6%) and the third-largest drop in RevPAR (-8.1% to US$86.66).
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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