U.S. Hotel Market Performing Well in Mid October

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | October 25, 2010 1:12 PM ET

According to data from Smith Travel Research (STR), the U.S. hotel industry reported increases in all three key performance metrics during the week of 10-16 October 2010.

In year-over-year comparisons, occupancy increased 8.3 percent to 63.8 percent, average daily rate was up 0.9 percent to US$100.40, and revenue per available room ended the week up 9.4 percent to US$64.09.

Among the Top 25 Markets, Detroit, Michigan, achieved the largest occupancy increase, rising 16.2 percent to 63.5 percent, followed by Anaheim-Santa Ana, California (+14.2 percent to 76.5 percent), and Tampa-St. Petersburg, Florida (+14.1 percent to 57.6 percent). Nashville, Tennessee (-4.2 percent to 60.2 percent) and San Francisco/San Mateo, California (-4.2 percent to 87.0 percent), reported the largest occupancy decreases.

Three markets posted ADR increases of more than 5 percent: Los Angeles-Long Beach, California (+6.6 percent to US$122.70); New York, New York (+6.2 percent to US$269.41); and Anaheim/Santa Ana (+6.1 percent to US$109.91). San Francisco/San Mateo experienced the largest ADR decrease, falling 9.8 percent to US$158.84, followed by Philadelphia, Pennsylvania-New Jersey (-7.9 percent to US$112.22), and Nashville (-7.8 percent to US$87.73).

Three markets reported RevPAR increases of more than 15 percent: Anaheim-Santa Ana (+21.1 percent to US$84.06); Tampa-St. Petersburg (+18.6 percent to US$51.73); and Los Angeles-Long Beach (+18.2 percent to US$93.94). San Francisco/San Mateo fell 13.6 percent in RevPAR to US$138.14, reporting the largest decrease in that metric, followed by Nashville with an 11.6-percent decrease to US$138.14.

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