U.S. Hotel Markets' Daily Rate Jumps 4% Last Week, Says STR

U.S. Hotel Markets' Daily Rate Jumps 4% Last Week, Says STR

Vacation News » Vacation & Leisure Real Estate Edition | By Michael Gerrity | April 4, 2011 11:11 AM ET

According to STR, the U.S. hotel industry's average daily rate increased by more than 4 percent for the first time in 2011 during the week ending March 26, 2011.

In year-over-year comparisons, ADR was up 4.1 percent to US$102.62. The industry's occupancy increased 4.5 percent to 62.7 percent, and its revenue per available room finished the week up 8.9 percent to US$64.32.

Among the Top 25 Markets, Dallas, Texas, experienced the largest occupancy increase, rising 16.7 percent to 66.0 percent, followed by Detroit, Michigan (+16.4 percent to 58.5 percent), and New Orleans, Louisiana (+14.6 percent to 81.3 percent). Washington, D.C. (-9.8 percent to 69.7 percent), and San Diego, California (-5.1 percent to 71.5 percent), reported the largest occupancy decreases for the week.

Three markets achieved double-digit ADR increases: New Orleans (+14.6 percent to US$135.22); San Francisco/San Mateo, California (+12.5 percent to US$139.55); and Chicago, Illinois (+10.6 percent to US$109.64). Norfolk-Virginia Beach, Virginia, fell 3.3 percent in ADR to US$76.47, reporting the largest decrease in that metric.

Four markets reported RevPAR increases of more than 20 percent: New Orleans (+31.4 percent to US$109.93); Dallas (+27.8 percent to US$59.91); Chicago (+23.3 percent to US$70.17); and Orlando, Florida (+22.6 percent to US$88.37). Washington, D.C., reported the only double-digit RevPAR decrease, falling 10.1 percent to US$106.86.

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