Hotels in U.S. Closeout October with Performance Upticks
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the week ending October 29, 2011.
In year-over-year comparisons for the week, occupancy rose 6.8 percent to 61.6 percent, average daily rate increased 4.7 percent to US$104.59, and revenue per available room finished the week up 11.8 percent to US$64.40.
Among the Top 25 Markets, Nashville, Tennessee, jumped 24.9 percent in occupancy to 71.0 percent, reporting the largest increase in that metric, followed by St. Louis, Missouri-Illinois, with a 19.2-percent increase to 64.0 percent. Washington, D.C., fell 8.3 percent in occupancy to 75.0 percent, posting the largest decrease in that metric.
Three markets experienced ADR increases of more than 15 percent during the week: St. Louis (+20.6 percent to US$97.45); Nashville (+17.8 percent to US$102.85); and San Francisco/San Mateo, California (+16.6 percent to US$177.13). Boston, Massachusetts, reported the largest ADR decrease, falling 3.1 percent to US$163.79.
Three markets achieved RevPAR increases of more than 20 percent: Nashville (+47.2 percent to US$72.99); St. Louis (+43.7 percent to US$62.33); and San Francisco/San Mateo (+27.3 percent to US$150.17). Washington, D.C., dropped 9.7 percent in RevPAR, posting the largest decrease in that metric.