U.S. Hotels Post Positive Gains in Early March

U.S. Hotels Post Positive Gains in Early March

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | March 14, 2011 8:00 AM ET

According to STR, the U.S. hotel market reported positive performance increases in early March.

In year-over-year comparisons, occupancy increased 7.1 percent to 58.8 percent, average daily rate was up 3.1 percent to US$99.06, and revenue per available room finished the week up 10.3 percent to US$58.25.

Among the Top 25 Markets, Dallas, Texas, achieved the largest occupancy increase, rising 20.2 percent to 60.9 percent, followed by Boston, Massachusetts (+16.9 percent to 62.2 percent), and Tampa-St. Petersburg, Florida (+15.8 percent to 77.0 percent). Atlanta, Georgia, fell 3.3 percent in occupancy to 59.3 percent, reporting the largest decrease in that metric, followed by New York, New York, with a 2.2-percent decrease to 71.9 percent.

New Orleans, Louisiana, jumped 36.7-percent in ADR to US$158.02, reporting the largest increase in that metric, followed by Oahu Island, Hawaii, with a 13.6-percent increase to US$158.48.

Atlanta reported the largest decreases in ADR (-12.3 percent to US$83.48) and RevPAR (-15.2 percent to US$49.53).

Five markets achieved RevPAR increases of more than 20 percent: New Orleans (+52.8 percent to US$117.71); Dallas (+27.6 percent to US$53.82); Boston (+23.9 percent to US$78.31); Oahu Island (+23.4 percent to US$132.91); and Tampa-St. Petersburg (+21.3 percent to US$81.48).

Real Estate Listings Showcase

This website uses cookies to improve user experience. By using our website you consent in accordance with our Cookie Policy. Read More