U.S. Hotels Continue Performance Gains in August

U.S. Hotels Continue Performance Gains in August

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | August 30, 2010 8:45 AM ET

According to data from Smith Travel Research, (STR), the U.S. hotel industry reported increases in all three key performance measurements during the week of 15-21 August 2010.

In year-over-year measurements, the industry's occupancy increased 8.2 percent to 65.3 percent. Average daily rate rose 1.5 percent to US$97.32. Revenue per available room increased 9.8 percent to US$63.59.

Among the Top 25 Markets, Phoenix, Arizona, experienced the largest decrease in all three key performance metrics. The market's occupancy fell 5.3 percent to 43.5 percent, ADR dropped 6.3 percent to US$70.55, and RevPAR plummeted 11.2 percent to US$30.72.

Detroit, Michigan, achieved the largest occupancy increase, rising 23.9 percent to 67.3 percent, followed by New Orleans, Louisiana (+22.3 percent to 52.9 percent), and St. Louis, Missouri-Illinois (+15.4 percent to 65.5 percent).

Two markets reported double-digit ADR increases: New York, New York (+13.1 percent to US$206.73), and San Francisco/San Mateo, California (+10.4 percent to US$135.02). Following Phoenix, Nashville, Tennessee, fell 5.2-percent in ADR to US$83.73.

New Orleans led the RevPAR increases for the week, rising 27.0 percent to US$45.76, followed by Detroit (+21.8 percent to US$51.62) and Boston, Massachusetts (+20.3 percent to US$116.28).

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