The U.S. hotel industry recorded positive results in the three key performance metrics during the week of 2-8 April 2017, according to data from STR.
In comparison with the week of 3-9 April 2016:
- Occupancy: +3.0% to 70.2%
- Average daily rate (ADR): +3.7% to US$127.89
- Revenue per available room (RevPAR): +6.8% to US$89.84
Among the Top 25 Markets, NCAA Final Four host, Phoenix, Arizona, reported the largest year-over-year increase in RevPAR (+24.5% to US$141.57). Growth was driven by the week’s largest rise in ADR (+19.7% to US$169.91) while occupancy was up 4.0% to 83.5%.
Two additional markets saw a RevPAR increase of more than 20.0% for the week: Orlando, Florida (+22.0% to US$126.73), and Detroit, Michigan (+20.9% to US$75.66). Overall, seven Top 25 Markets experienced double-digit growth in the metric.
After Phoenix, two other markets posted a double-digit lift in ADR for the week: Seattle, Washington (+12.4% to US$147.24), and Orlando (+10.9% to US$138.19).
Three markets experienced a double-digit increase in occupancy: Norfolk/Virginia Beach, Virginia (+13.8% to 63.2%); Detroit (+11.1% to 72.4%); and Orlando (+10.0% to 91.7%).
Houston, Texas, reported the steepest declines across the three key performance metrics. Occupancy fell 5.6% to 65.2%, ADR was down 15.1% to US$104.94 and RevPAR dropped 19.9% to US$68.42.
No other Top 25 Market reported a double-digit decrease in the metrics.
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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