U.S. Hotel Market Performing Well in Early July; Miami Posting Strongest Occupancy Gains

U.S. Hotel Market Performing Well in Early July; Miami Posting Strongest Occupancy Gains

Vacation News » Vacation & Leisure Real Estate Edition | By David Barley | July 12, 2011 9:00 AM ET

According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the week ending July 2, 2011.

In year-over-year comparisons for the week, occupancy rose 5.8 percent to 67.1 percent, average daily rate increased 3.9 percent to US$100.77, and revenue per available room finished the week up 9.9 percent to US$67.66.

Among the Top 25 Markets, Miami-Hialeah, Florida, rose 24.6 percent in occupancy to 74.2 percent, reporting the largest increase in that metric, followed by Houston, Texas (+17.1 percent to 58.6 percent), and Tampa-St. Petersburg, Florida (+15.3 percent to 57.9 percent). Four markets reported actual occupancies of more than 80 percent for the week: Denver, Colorado (86.5 percent); San Francisco/San Mateo, California (83.6 percent); New York, New York (82.9 percent); and Oahu Island, Hawaii (81.2 percent). New Orleans, Louisiana (-6.0 percent to 66.7 percent), and Oahu Island (-6.0 percent) experienced the largest occupancy decreases.

Three top markets posted ADR increases of more than 15 percent: San Francisco/San Mateo (+21.4 percent to US$146.39); Philadelphia, Pennsylvania-New Jersey (+18.9 percent to US$124.84); and Nashville, Tennessee (+15.3 percent to US$93.23). Two markets reported ADR decreases: San Diego, California (-2.0 percent to US$134.46), and Phoenix, Arizona (-0.8 percent to US$77.31).

Three markets achieved RevPAR increases of more than 25 percent: San Francisco/San Mateo (+36.2 percent to US$122.38); Miami-Hialeah (+35.0 percent to US$94.33); and Philadelphia (+27.4 percent to US$94.73). Atlanta, Georgia, fell 5.3 percent in RevPAR to US$52.97, reporting the largest decrease in that metric.

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