STR Reports US Hotel Performance for February 2010
March 24, 2010 - The U.S. hotel industry posted mixed results in the three key performance measurements during February 2010, according to data from STR.
In year-over-year measurements, the industry's occupancy ended the month virtually flat with a 0.9-percent increase to 53.0 percent. Average daily rate dropped 4.5 percent to finish the month at US$96.40. Revenue per available room for the month decreased 3.6 percent to finish at US$51.09.
“February results were encouraging across the board,” said Mark Lomanno, president of STR. “Hotel demand has shown a nice bounce, and room rates, while still down compared to last year, have almost stabilized. However, there is much work to be done before we can say the industry has actually begun to rebound.”
Among the Chain Scale segments, three of the seven segments reported increases in occupancy. The Luxury segment increased 9.1 percent to 63.7 percent, followed by the Upper Upscale segment (+5.2 percent to 64.4 percent) and the Upscale segment (+4.3 percent to 62.1 percent). The Luxury segment was the only segment to report a RevPAR increase, rising 3.3 percent to US$158.90.
San Francisco/San Mateo, California, posted the largest occupancy increase, up 13.8 percent to 65.2 percent. Three other markets experienced double-digit occupancy increases: Detroit, Michigan (+11.4 percent to 48.2 percent); Seattle, Washington (+11.2 percent to 59.0 percent); and New York, New York (+10.1 percent to 70.6 percent). Norfolk-Virginia Beach, Virginia, reported the largest occupancy decrease, falling 9.7 percent to 39.5 percent.
Miami-Hialeah, Florida, was the only market to experience an ADR increase, rising 12.1 percent to US$201.63. Three markets posted ADR decreases of more than 10 percent: Tampa-St. Petersburg, Florida (-16.8 percent to US$99.09); Phoenix, Arizona (-13.1 percent to US$120.36); and Anaheim-Santa Ana, California (-11.4 percent to US$102.38).
Miami-Hialeah led the RevPAR increases, rising 21.4 percent to US$158.45, followed by San Francisco/San Mateo with an 11.7 percent increase to US$81.95. Three markets experienced RevPAR decreases of more than 10 percent: Tampa-St. Petersburg (-16.8 percent to US$64.21); Houston, Texas (-15.5 percent to US$55.06); and Norfolk-Virginia Beach (-12.8 percent to US$26.42).
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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