The U.S. hotel industry reported flat occupancy and slightly higher rates year over year during the week of 14-20 May 2017, according to data from STR.
In comparison with the week of 15-21 May 2016, the industry recorded the following in the three key performance metrics:
- Occupancy: Flat at 70.6%
- Average daily rate (ADR): +1.5% to US$127.91
- Revenue per available room (RevPAR): +1.5% to US$90.26
STR analysts note that occupancy for the week was pulled down due to comparison with a non-Mother’s Day Sunday in 2016.
Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, registered the only double-digit lift in occupancy (+12.8% to 69.5%) and the largest year-over-year increase in RevPAR (+20.7% to US$72.04). ADR in the market rose 7.0% to US$103.64.
Three additional markets saw a double-digit increase in RevPAR: Detroit, Michigan (+11.6% to US$76.49); Seattle, Washington (+10.6% to US$147.88); and St. Louis, Missouri-Illinois (+10.5% to US$93.82).
Growth in St. Louis was driven primarily by the week’s largest increase in ADR (+9.9% to US$119.51).
Phoenix, Arizona, saw the week’s steepest decline in occupancy (-8.7% to 62.1%).
New Orleans, Louisiana, reported the largest decreases in ADR (-6.4% to US$145.67) and RevPAR (-14.4% to US$103.10).
Two additional markets experienced a double-digit drop in RevPAR: Miami/Hialeah, Florida (-11.8% to US$121.70), and San Francisco/San Mateo, California (-10.1% to US$206.84).
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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