U.S. Hotel Sector Continues to Posts Positive Gain in March

U.S. Hotel Sector Continues to Posts Positive Gain in March

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | March 21, 2011 10:43 AM ET

Based on new data from STR, the U.S. hotel industry reported increases in all three key performance metrics during the second week of March.

In year-over-year comparisons, occupancy increased 6.0 percent to 61.1 percent, average daily rate was up 3.1 percent to US$100.93, and revenue per available room finished the week up 9.2 percent to US$61.69.

Among the Top 25 Markets, Orlando, Florida, experienced the largest occupancy increase, rising 15.8 percent to 83.5 percent. Three other markets reported double-digit occupancy increases: Chicago, Illinois (+13.3 percent to 62.7 percent); Philadelphia, Pennsylvania-New Jersey (+10.8 percent to 68.9 percent); and Atlanta, Georgia (+10.4 percent to 63.6 percent). Nashville, Tennessee, fell 6.9 percent in occupancy to 60.9 percent, reporting the largest decrease in that metric, followed by San Francisco/San Mateo, California (-6.1 percent to 69.0 percent).

Oahu Island, Hawaii, posted the only double-digit ADR increase, rising 10.3 percent to US$158.86. Two markets reported ADR decreases of more than 10 percent: New Orleans, Louisiana (-11.3 percent to US$149.17), and Nashville (-10.6 percent to US$89.63).

Four markets achieved RevPAR increases of more than 15 percent: Orlando (+26.7 percent to US$87.13); Chicago (+21.9 percent to US$67.15); Oahu Island (+20.6 percent to US$133.04); and Philadelphia (+18.1 percent to US$77.97). Nashville (-16.7 percent to US$54.61) and New Orleans (-12.9 percent to US$119.09) experienced the largest RevPAR decreases for the week.

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