U.S. Hotel Sector Posts Positive Gains as Summer Begins

U.S. Hotel Sector Posts Positive Gains as Summer Begins

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | June 13, 2011 1:11 PM ET

According to STR, based on year-over-year comparisons, occupancy rose 2.5 percent to 58.5 percent, average daily rate increased 2.7 percent to US$96.63, and revenue per available room finished the week up 5.2 percent to US$56.55 for the week ending June 4, 2011.

Among the Top 25 Markets, Dallas, Texas, reported the largest occupancy increase, rising 13.9 percent to 58.1 percent, followed by Detroit, Michigan, with an 11.4-percent increase to 56.6 percent. Philadelphia, Pennsylvania-New Jersey, fell 7.0 percent in occupancy to 60.4 percent, posting the largest decrease in that metric, followed by San Francisco/San Mateo, California (-4.6 percent to 73.9 percent), and New York, New York (-3.3 percent to 77.9 percent).

Four markets experienced ADR increases of more than 10 percent: Nashville, Tennessee (+12.6 percent to US$89.67); Boston, Massachusetts (+12.4 percent to US$155.86); Denver, Colorado (+11.3 percent to US$95.29); and Oahu Island, Hawaii (+10.2 percent to US$160.20). San Francisco/San Mateo (-5.3 percent to US$133.15) and Atlanta, Georgia (-3.2 percent to US$73.55), reported the largest ADR decreases for the week.

Six top markets achieved RevPAR increases of more than 15 percent: Boston (+23.0 percent to US$116.39); Denver (+21.4 percent to US$61.35); Dallas (+16.6 percent to US$44.46); Miami-Hialeah, Florida (+16.2 percent to US$93.76); Minneapolis-St. Paul, Minnesota-Wisconsin (+15.7 percent to US$53.95); and New Orleans, Louisiana (+15.1 percent to US$59.19). San Francisco/San Mateo fell 9.7 percent in RevPAR to US$98.39, reporting the largest decrease in that metric, followed by Philadelphia with a 5.6-percent decrease to US$64.79.

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