Phoenix is Best Performing U.S. Hotel Market in Mid-January

Phoenix is Best Performing U.S. Hotel Market in Mid-January

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | January 24, 2011 10:10 AM ET

According to Smith Travel Research (STR), the U.S. hotel industry reported single-digit increases in all three key performance metrics during the week ending January 15, 2011.

In year-over-year comparisons, occupancy increased 4.5 percent to 49.9 percent, average daily rate was up 3.0 percent to US$97.59, and revenue per available room finished the week up 7.6 percent to US$48.70.

Among the Top 25 Markets, Phoenix, Arizona, achieved the largest occupancy increase, rising 29.2 percent to 74.6 percent, followed by Detroit, Michigan, with a 22.5-percent increase to 62.0 percent. Five of the top markets experienced occupancy decreases. Boston, Massachusetts, fell 8.8 percent in occupancy to 52.6 percent, reporting the largest decrease in that metric, followed by Washington, D.C., which fell 7.7 percent in occupancy to 49.6 percent.

Two markets experienced double-digit ADR increases: San Francisco/San Mateo, California (+11.6 percent to US$167.16), and Phoenix (+11.0 percent to US$127.15). Norfolk-Virginia Beach, Virginia, posted the largest ADR decrease, falling 6.6 percent to US$64.56, followed by Dallas, Texas, with a 4.4-percent decrease to US$88.87.

Three markets reported RevPAR increases of more than 20 percent: Phoenix (+43.5 percent to US$94.79); Detroit (+26.0 percent to US$54.81); and Atlanta, Georgia (+24.8 percent to US$57.38). Washington, D.C., posted the only double-digit RevPAR decrease, falling 10.7 percent to US$66.01.

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