STR Reports US Hotel Performance for Week Ending July 10 - 2010
July 19, 2010 - In year-over-year measurements, the industry's occupancy increased 3.9 percent to 62.5 percent. Average daily rate rose 0.4 percent to US$94.69. Revenue per available room jumped 4.3 percent to US$59.17.
New Orleans, Louisiana, experienced the largest increases in all three key performance metrics. The market's occupancy rose 14.9 percent to 68.4 percent, ADR was up 11.0 percent to US$112.22, and RevPAR jumped 27.5 percent to US$76.70.
Excluding New Orleans, four markets reported double-digit occupancy increases: Oahu Island, Hawaii (+11.3 percent to 86.7 percent); Detroit, Michigan (+10.7 percent to 54.8 percent); Nashville, Tennessee (+10.2 percent to 62.5 percent); and Orlando, Florida (+10.2 percent to 68.9 percent). Minneapolis-St. Paul, Minnesota-Wisconsin reported the largest occupancy decrease, falling 10.2 percent to 60.4 percent, followed by Houston, Texas with a 9.7-percent decrease to 47.7 percent.
Oahu Island posted the largest ADR increase behind New Orleans, rising 8.2 percent to US$162.55. Atlanta, Georgia, experienced the only double-digit ADR decrease, falling 13.5 percent to US$74.77, followed by Minneapolis-St. Paul with a 9.9-percent decrease to US$85.93.
Oahu Island rose 20.5 percent in RevPAR to US$140.86. Three markets posted RevPAR decreases of 15 percent or more: Minneapolis-St. Paul (-19.1 percent to US$51.92); Atlanta (-18.9 percent to US$42.58); and Houston, Texas (-17.4 percent to US$37.38).
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STR provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.str.com.
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