Hotel Sector in U.S. Posts Positive Performance Gains in Mid-July

Hotel Sector in U.S. Posts Positive Performance Gains in Mid-July

Vacation News » Vacation & Leisure Real Estate Edition | By David Barley | August 1, 2011 10:33 AM ET

According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the week ending July 23, 2011.

In year-over-year comparisons for the week, occupancy rose 2.2 percent to 73.4 percent, average daily rate increased 3.7 percent to US$103.71, and revenue per available room finished the week up 6.0 percent to US$76.11.

Among the Top 25 Markets, Tampa-St. Petersburg, Florida, experienced the largest occupancy increase, rising 21.5 percent to 66.1 percent, followed by Denver, Colorado (+12.7 percent to 91.8 percent), and Phoenix, Arizona (+12.6 percent to 52.6 percent). New Orleans, Louisiana, dropped 18.0 percent in occupancy to 62.9 percent, reporting the largest decrease in that metric.

Three markets reported double-digit ADR increases: Denver (+17.2 percent to US$116.74); San Francisco/San Mateo, California (+16.8 percent to US$157.48); and Nashville, Tennessee (+12.8 percent to US$93.51). Atlanta, Georgia, posted the largest ADR decrease, falling 6.5 percent to US$83.60.

Denver jumped 32.0 percent in RevPAR to US$107.13, achieving the largest increase in that metric. Three other top markets reported RevPAR increases of more than 20 percent: Tampa-St. Petersburg (+28.6 percent to US$59.27); Nashville (+26.1 percent to US$70.32); and San Francisco/San Mateo (+24.6 percent to US$147.18). New Orleans (-18.5 percent to US$60.92) and Atlanta (-11.9 percent to US$55.92) reported the largest RevPAR decreases for the week.

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