The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 21-27 April 2019, according to data from STR.
In comparison with the week of 22-28 April 2018, the industry recorded the following:
• Occupancy: -1.4% to 68.9%
• Average daily rate (ADR): -1.4% to US$128.66
• Revenue per available room (RevPAR): -2.9% to US$88.59
STR analysts attribute steep performance declines in many major markets to group business decreases on Easter Sunday and the Monday that followed. The corresponding days from 2018 were non-holiday dates.
Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, registered the only double-digit jump in RevPAR (+30.6% to US$87.61), due to the largest rises in occupancy (+6.9% to 74.6%) and ADR (+22.2% to US$117.50).
Miami/Hialeah, Florida, posted the second-largest increases in ADR (+11.8% to US$226.76) and RevPAR (+8.6% to US$184.32).
Washington, D.C.-Maryland-Virginia, reported the steepest decrease in RevPAR (-20.3% to US$122.03), primarily due to the largest decline in ADR (-13.2% to US$161.35). The market registered the second-largest drop in occupancy (-8.1% to 75.6%).
Detroit, Michigan, experienced the only double-digit decrease in occupancy (-10.5% to 70.9%).
Chicago, Illinois, saw the second-steepest declines in ADR (-12.6% to US$128.47) and RevPAR (-16.9% to US$89.25).
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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