The U.S. hotel industry reported positive results in the three key performance metrics during the week of 20-26 November 2016, according to data from STR.
In year-over-year comparisons, the industry’s occupancy rose 2.7% to 50.7%. Average daily rate (ADR) increased 2.8% to US$107.66. Revenue per available room (RevPAR) grew 5.5% to US$54.62.
Five Top 25 Markets experienced double-digit growth in RevPAR for the week: Washington, D.C.-Maryland-Virginia (+16.6% to US$50.90); Dallas, Texas (+15.4% to US$45.82); Norfolk/Virginia Beach, Virginia (+15.1% to US$38.91); Los Angeles/Long Beach, California (+12.9% to US$92.36); and Phoenix, Arizona (+10.6% to US$51.06).
In ADR, Los Angeles/Long Beach (+8.0% to US$144.65) and Washington, D.C. (+7.4% to US$106.90) posted the largest year-over-year increases.
Norfolk/Virginia Beach, saw the only double-digit increase in occupancy (+12.5% to 47.2%).
Houston, Texas, experienced the steepest declines in occupancy (-9.0% to 42.2%) and RevPAR (-15.2% to US$33.72).
Miami/Hialeah, Florida, reported the largest drop in ADR (-8.7% to US$161.30) and the only other double-digit decrease in RevPAR (-14.5% to US$104.30).
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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