According to data from Smith Travel Research (STR), the U.S. hotel industry reported mixed results in the three key performance measurements during the week of 14-20 March 2010.
In year-over-year measurements, the industry's occupancy ended the week with a 5.2-percent increase to 61.4 percent. Average daily rate dropped 1.9 percent to finish the week at US$98.30. Revenue per available room for the week was up 3.2 percent to US$60.39.
Among the Chain Scale segments, all seven reported occupancy increases for the week. Two of the segments posted double-digit occupancy increases: the Luxury segment (+12.7 percent to 72.0 percent) and the Upper Upscale segment (+10.2 percent to 73.7 percent). The Economy segment was the only segment to experience a RevPAR decrease, falling 2.7 percent to US$26.33.
Among the Top 25 Markets, Boston, Massachusetts, reported the largest occupancy increase, rising 19.9 percent to 65.0 percent, followed by New York, New York, with a 17.3-percent increase to 88.4 percent. New York also reported the highest occupancy rate for the week among the top markets. Only three markets experienced occupancy decreases: Norfolk-Virginia Beach, Virginia (-5.5 percent to 46.0 percent); St. Louis, Missouri-Illinois (-4.9 percent to 58.2 percent); and Houston, Texas (-3.4 percent to 62.5 percent).
Atlanta, Georgia, posted the largest ADR increase, up 5.4 percent to US$93.89, followed by Denver, Colorado, with a 5.2-percent increase to US$95.12. Houston experienced the largest ADR decrease, falling 10.5 percent to US$86.57. It was also the only market to report a double-digit decrease for the week.
New York led the RevPAR increases with a 19.1-percent increase to US$178.60, followed by Atlanta with a 17.8-percent increase to US$57.46. Three of the Top 25 Markets experienced RevPAR decreases: St. Louis (-13.9 percent to US$45.29); Houston (-13.5 percent to US$54.07); and Norfolk-Virginia Beach (-5.5 percent to US$34.94).