The U.S. hotel industry reported positive results in the three key performance metrics during the week of 16-22 October 2016, according to data from STR.
In year-over-year comparisons, the industry's occupancy increased 2.6% to 72.3%. Average daily rate (ADR) rose 3.2% to US$129.03. Revenue per available room (RevPAR) grew 5.8% to US$93.26.
Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, recorded the only double-digit increase in occupancy (+19.7% to 67.1%) and the largest increase in RevPAR (+21.0% to US$59.01). ADR in the market was up 1.1% to US$87.93.
Five additional markets saw a double-digit lift in RevPAR for the week: St. Louis, Missouri-Illinois (+17.8% to US$79.99); Seattle, Washington (+16.2% to US$122.03); Phoenix, Arizona (+16.1% to US$99.76); Orlando, Florida (+15.4% to US$97.50); and Anaheim/Santa Ana, California (+10.6% to US$133.65).
Orlando was the only Top 25 Market to post a double-digit increase in ADR (+10.1% to US$123.57).
Houston, Texas, experienced the steepest declines in occupancy (-10.1% to 70.0%) and RevPAR (-8.3% to US$82.48). ADR in the market increased 2.0% to US$117.77.
San Diego, California, reported the largest decrease in ADR (-4.6% to US$151.38).
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.
Logos, product and company names mentioned are the property of their respective owners.