The Americas Hotel Market Posts Positive Performance Growth in 2012
According to STR Global, the Americas region recorded positive results in the three key performance metrics when reported in U.S. dollars for 2012.
In 2012, the Americas region reported a 2.4-percent increase in occupancy to 61.5 percent, a 3.8-percent gain in average daily rate to US$108.53 and a 6.3-percent jump in revenue per available room to US$66.77.
Among the key markets in the region, Los Angeles, California, rose 5.1 percent in occupancy to 75.4 percent in 2012, reporting the largest increase in that metric, followed by San Juan, Puerto Rico, with a 4.2-percent increase to 76.8 percent.
Santiago, Chile (+11.3 percent to US$176.02), and San Francisco, California (+10.8 percent to US$171.72), achieved the largest ADR increases for the year.
Four markets experienced double-digit RevPAR growth: San Francisco (+12.8 percent to US$137.99); Santiago (+12.7 percent to US$127.37); Los Angeles (+11.0 percent to US$98.11); and Chicago, Illinois (+10.0 percent to US$83.50).
Panama City, Panama, reported the largest decrease in all three key performance metrics for the year. The market's occupancy fell 15.9 percent to 48.5 percent, its ADR was down 10.1 percent to US$118.60 and its RevPAR decreased 24.4 percent to US$57.51.Performances of key countries in 2012 (all monetary units in local currency):
In December 2012, the Americas region increased 3.0 percent in occupancy to 49.3 percent, rose 4.2 percent in ADR to US$108.05 and grew 7.3 percent in RevPAR to US$53.25.