U.S. Hotel Market Still Sending Mixed Signals, Says STR

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | April 2, 2010 10:00 AM ET

According to data from Smith Travel Research, the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 21-27 March 2010.

In year-over-year measurements, the industry's occupancy ended the week with a 5.9-percent increase to 59.9 percent. Average daily rate dropped 1.6 percent to finish the week at US$98.29. Revenue per available room for the week was up 4.2 percent to US$58.89.

Among the Chain Scale segments, the Luxury segment reported the only double-digit occupancy increase, up 10.5 percent to 71.7 percent. The Independent segment was the only segment that did not report an ADR decrease for the week, ending flat at US$94.60. The Luxury segment experienced the largest RevPAR increase, rising 7.1 percent to US$178.38.

Among the Top 25 Markets, Boston, Massachusetts, reported the largest occupancy increase, jumping 31.0 percent to 71.8 percent. Two other markets posted occupancy increases of more than 15 percent: New Orleans, Louisiana (+19.7 percent to 71.0 percent), and Tampa-St. Petersburg, Florida (+17.0 percent to 76.7 percent). Only three of the top markets reported occupancy decreases: Houston, Texas (-4.6 percent to 59.4 percent); Norfolk-Virginia Beach, Virginia (-4.0 percent to 48.5 percent); and Denver, Colorado (-0.6 percent to 56.6. percent).

Miami-Hialeah, Florida, posted the largest ADR increase, up 5.1 percent to US$193.59, followed by St. Louis, Missouri-Illinois, with a 3.3-percent increase to US$83.56. Three markets experienced double-digit ADR decreases: Anaheim-Santa Ana, California (-13.3 percent to US$99.38); Denver (-11.1 percent to US$90.17); and Chicago, Illinois (-10.1 percent to US$99.01).

Boston jumped 32.0 percent in RevPAR to US$92.96, reporting the largest increase in that metric, followed by New Orleans with a 21.9-percent increase to US$83.90. Three markets ended the week with RevPAR decreases of 10 percent or more: Houston (-12.2 percent to US$54.23); Denver (-11.6 percent to US$51.04); and Anaheim-Santa Ana (-10.0 percent to US$73.89).

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