U.S. Hotel Market Performing Well in Early December
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the first week of December.
In year-over-year comparisons for the week, occupancy rose 2.7 percent to 51.0 percent, average daily rate increased 2.7 percent to US$99.42 and revenue per available room finished the week with an increase of 5.4 percent to US$50.71.
Among the Top 25 Markets, four markets achieved double-digit occupancy increases: New Orleans, Louisiana (+14.4 percent to 61.9 percent); Tampa-St. Petersburg, Florida (+13.1 percent to 55.0 percent); Houston, Texas (+12.6 percent to 57.0 percent); and Oahu Island, Hawaii (+10.6 percent to 77.9 percent). Phoenix, Arizona, fell 6.8 percent in occupancy to 50.6 percent, reporting the largest decrease in that metric, followed by Denver, Colorado, with a 4.2-percent decrease to 48.9 percent.
New Orleans jumped 17.5 percent in ADR to US$128.38, posting the largest increase in that metric, followed by Tampa-St. Petersburg (+10.7 percent to US$88.52) and Miami-Hialeah, Florida (+10.2 percent to US$187.57). Orlando, Florida, fell 4.5 percent in ADR to US$92.28, reporting the largest decrease in that metric.
Four top markets experienced RevPAR increases of more than 15 percent: New Orleans (+34.4 percent to US$79.47); Tampa-St. Petersburg (+25.2 percent to US$48.70); Houston (+19.0 percent to US$52.38); and Oahu Island (+17.6 percent to US$123.68). Denver fell 6.5 percent in RevPAR to US$44.60, reporting the largest decrease in that metric.