The U.S. hotel industry recorded positive results in the three key performance measurements during the week of 12-18 April 2015, according to data from STR, Inc.
In year-over-year measurements, the industry's occupancy increased 9.4 percent to 68.8 percent. Average daily rate increased 8.3 percent to finish the week at US$121.20. Revenue per available room for the week was up 18.5 percent to finish at US$83.43.
The 18.5-percent increase in RevPAR was the largest recorded by STR in 73 weeks. The performance was driven by Passover and Easter in the comparable week from 2014.
Four of the Top 25 Markets reported RevPAR increases of more than 50.0 percent: Chicago, Illinois (+73.8 percent to US$129.39); New Orleans, Louisiana (+59.5 percent to US$140.80); St. Louis, Missouri-Illinois (+52.6 percent to US$77.97); and Washington, D.C.-Maryland-Virginia (+52.3 percent to US$151.61). In addition, 11 other markets posted RevPAR increases of more than 20.0 percent.
Norfolk/Virginia Beach, Virginia, reported the largest decrease in RevPAR, down 23.0 percent to US$46.13.
Six markets recorded ADR increases of more than 20.0 percent during the week: New Orleans (+38.2 percent to US$175.00); Chicago (+36.3 percent to US$159.42); Washington, D.C. (+31.7 percent to US$178.74); San Diego, California (+23.1 percent to US$154.27); Nashville, Tennessee (+22.2 percent to US$136.73); and Atlanta, Georgia (+20.5 percent to US$101.77).
New York, New York (-11.1 percent to US$247.77) was the only market to report a double-digit ADR decrease.
Three markets recorded occupancy increases greater than 20.0 percent: St. Louis (+28.5 percent to 74.1 percent); Chicago (+27.5 percent to 81.2 percent); and Atlanta (+24.0 percent to 77.2 percent). Overall, 12 markets reported double-digit occupancy increases.
Norfolk/Virginia Beach (-17.8 percent to 55.6 percent) reported the steepest decline in occupancy.
STR, Inc. provides clients - including hotel operators, developers, financiers, analysts and suppliers to the hotel industry - access to hotel research with regular and custom reports covering the United States, Canada, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, STR Analytics and Hotel News Now. STR also founded the Hotel Data Conference. For more information, please visit www.str.com.
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