STR Reports US Performance, Week Ending January 17
The U.S. hotel industry posted declines in all three key performance measurements during the week of 11-17 January 2009, according to data from STR.
In year-over-year measurements, the industry's occupancy fell 12.9 percent to end the week at 48.3 percent. Average daily rate dropped 4.0 percent to finish the week at US$101.96. Revenue per available room for the week decreased 16.4 percent to finish at US$49.22.
'It was more of the same,' said Brad Garner, vice president of operations/client services at STR. 'The economy is battering the hotel industry.'
'We are mildly disappointed by the performance of the Middle Atlantic and Southeast regions where we thought there would be more of an uplift heading into Martin Luther King Jr. Day weekend and Inauguration Day,' he added, 'but we are still optimistic that we'll see the true effect of the 'Obama bounce' in next week's results.'
The year-over-year, double-digit drops in occupancy and RevPAR for the Total U.S. hotel industry carried over into each of the seven chain-scale segments:
o The Luxury segment posted the biggest declines in both measurements, with a 16.7-percent decrease in occupancy (57.7 percent) and a 22.4-percent fall in RevPAR (US$150.19).
o The Upper Upscale segment saw declines of 13.1 percent and 17.4 percent in occupancy and RevPAR, respectively.
o The Upscale segment experienced a 12.5-percent drop in occupancy (57.4 percent) and a 16.8-percent decreases in RevPAR (US$66.33).
o The Midscale with Food and Beverage segment saw occupancy fall 14.6 percent to 42.6 percent. RevPAR for the segment declined 16.3 percent to US$34.99.
o The Midscale without Food and Beverage segment saw drops of 13.3 percent and 14.6 percent in occupancy and RevPAR, respectively.
o The Economy segment experienced the smallest decreases in both measurements, with a 11.3-percent fall in occupancy (41.0 percent) and a 13.1-percent decline in RevPAR (US$20.86).
o The Independents segment saw drops of 13.3 percent and 17.5 percent in occupancy and RevPAR, respectively.
While each of the seven chain-scale segments recorded drops in ADR, none declined by a double-digit margin. The Luxury segment saw the biggest decrease at 6.8 percent (US$260.43), while the Midscale without Food and Beverage segment experienced the smallest fall at 1.4 percent (US$86.50).
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