The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 25 June through 1 July 2017, according to data from STR.
In comparison with the week of 26 June through 2 July 2016, the industry recorded the following:
- Occupancy: +3.8% to 74.2%
- Average daily rate (ADR): +2.8% to US$127.75
- Revenue per available room (RevPAR): +6.8% to US$94.80
Among the Top 25 Markets, Minneapolis/St. Paul, Minnesota-Wisconsin, registered the largest year-over-year increases in occupancy (+17.1% to 84.4%) and RevPAR (+28.5% to US$109.20). ADR in the market rose 9.7% to US$129.38.
Four additional markets saw a RevPAR increase of more than 15.0% for the week: Chicago, Illinois (+22.9% to US$122.72); Washington, D.C.-Maryland-Virginia (+21.3% to US$132.32); Boston, Massachusetts (+16.9% to US$183.54); and Seattle, Washington (+16.3% to US$158.71).
Three of those markets posted a double-digit lift in ADR: Seattle (+11.3% to US$185.59), Washington, D.C. (+10.9% to US$160.73) and Chicago (+10.6% to US$150.81).
After Minneapolis, only one Top 25 Market experienced a double-digit rise in occupancy (Chicago: +11.1% to 81.4%).
Philadelphia, Pennsylvania-New Jersey, reported the only double-digit decline in RevPAR (-10.0% to US$91.52), due primarily to the week’s largest drop in ADR (-7.5% to US$125.35).
St. Louis, Missouri-Illinois, saw the steepest decline in occupancy (-6.4% to 73.7%).
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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