STR Reports U.S. Hotel Performance for Week Ending 4 April
U.S. hotel industry posted declines in all three key performance measurements
APRIL 13, 2009 - In year-over-year measurements, the industry's occupancy fell 9.9 percent to end the week at 56.2 percent (62.3 percent in the comparable week in 2008). Average daily rate dropped 9.0 percent to finish the week at US$98.79 (US$108.59 in the comparable week in 2008). Revenue per available room for the week decreased 18.0 percent to finish at US$55.49 (US$67.68 in the comparable week in 2008).
Detroit, Michigan, was the only market among the Top 25 Markets to report increases in both ADR (+12.0 percent to US$97.86) and RevPAR (+8.3 percent to US$50.83). The market benefitted from an influx of travelers who attended the Final Four and NCAA men's basketball championship help 4-6 April.
Among the remaining Top 25 Markets, Norfolk-Virginia Beach, Virginia, was the only market to report an increase in occupancy, which rose 1.6 percent to 52.7 percent. Chicago, Illinois, saw a 22.0-percent drop in occupancy to 51.8 percent─,the largest decrease in that metric. Four markets reported ADR decreases larger than 15 percent, they include: New York, New York (-24.9 percent to US$199.03), Chicago (-24.0 percent to US$110.99), Anaheim-Santa Ana, California (-17.1 percent to US$106.65), and Phoenix, Arizona (-16.2 percent to US$127.86). The smallest RevPAR decreases were reported by Norfolk-Virginia Beach (-1.5 percent to US$41.74) and Houston, Texas (-3.9 percent to US$63.88). Three markets reported RevPAR decreases of more than 30 percent, including: Chicago (-40.7percent to US$57.50), New York (-33.1 percent to US$142.02), and Anaheim-Santa Ana (-30.7 percent to US$65.91).
About STR & STR Global
For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
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