U.S. Hotel Market Posts Positive Performance Gains This Week

U.S. Hotel Market Posts Positive Performance Gains This Week

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | June 25, 2010 8:30 AM ET

According to data released by Smith Travel Research (STR), the U.S. hotel industry achieved increases in all three key performance measurements during the week of June 13-19, 2010.

In year-over-year measurements, the industry's occupancy last week increased 5.8 percent to 66.7 percent. Average daily rate rose 1.1 percent to US$98.03-the third time in four weeks that the measurement has risen. Revenue per available room rose 7.0 percent to US$65.36.

The Luxury Chain Scale segment achieved a 12.3-percent RevPAR lift to US$165.99, a 4.2-percent increase in ADR to US$233.07 and a 7.8-percent rise is occupancy to 71.2 percent. The Upper Upscale segment also fared well as occupancy rose 6.6 percent to 75.3 percent, ADR increased 2.5 percent to US$142.67, and RevPAR jumped 9.3 percent to US$107.47.

Fourteen of the Top 25 Markets (based on number of guestrooms, excluding Las Vegas) achieved double-digit RevPAR increases. Among them, Los Angeles-Long Beach, California (+21.1 percent to US$96.86), Denver, Colorado (+20.1 percent to US$73.94), and New York, New York (+19.5 percent to US$192.45) led the way. Eight of the Top 25 Markets experienced declines in RevPAR, led by Dallas, Texas (-6.6 percent to US$44.68) and Nashville, Tennessee (-4.9 percent to US$61.63).

New York outdistanced the other Top 25 Markets in ADR gains, racking up a 14.1-percent increase to US$225.86. Other leading ADR gainers included: Los Angeles-Long Beach (+9.5 percent to US$124.99), Washington, D.C. (+6.4 percent to US$154.70) and San Francisco-San Mateo, California (+4.1 percent to US$128.15). At the other end of the spectrum for the week were Nashville (-7.6 percent to US$88.85), Seattle, Washington (-6.2 percent to US$111.20) and Anaheim-Santa Ana, California (-5.5 percent to US$101.63).

Twenty three of the Top 25 Markets posted year-over-year gains in occupancy for the week. Leading the way were Denver (+16.9 percent to 76.3 percent), Detroit, Michigan (+16.5 percent to 64.9 percent) and Chicago, Illinois (+14.7 percent to 79.1 percent). The two Top 25 Markets to experience occupancy declines for the week were Orlando, Florida (-3.1 percent to 67.7 percent) and Dallas (-3.6 percent to 54.9 percent).


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