The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 22-28 October 2017, according to data from STR.
In comparison with the week of 23-29 October 2016, the industry recorded the following:
- Occupancy: +4.0% to 69.8%
- Average daily rate (ADR): +2.6% to US$129.44
- Revenue per available room (RevPAR): +6.7% to US$90.32
Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year increases in occupancy (+34.9% to 85.9%), ADR (+14.0% to US$120.89) and RevPAR (+53.8% to US$103.82). Post-Hurricane Harvey demand continues to drive performance levels in the market.
Tampa/St. Petersburg, Florida, experienced the second-highest increase in occupancy (+13.4% to 77.7%) and the second-largest rise in RevPAR (+23.9% to US$94.42).
Overall, nine of the Top 25 Markets reported double-digit RevPAR growth.
Detroit, Michigan, posted the only other double-digit increase in ADR (+12.2% to US$112.31).
New Orleans, Louisiana, reported the steepest decline in RevPAR (-20.1% to US$122.73), due primarily to the week’s only double-digit drop in occupancy (-13.0% to 73.5%).
Two markets reported decreases in ADR: Chicago, Illinois (-8.9% to US$155.91), and New Orleans (-8.1% to US$166.91).
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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