STR Reports US Hotel Performance for June 2010
July 21, 2010 - In year-over-year measurements, the industry's occupancy was up 6.9 percent to 65.0 percent. Average daily rate ended the month with a 1.0-percent increase to US$98.33. Revenue per available room for the month rose 8.0 percent to finish at US$63.87.
The U.S. hotel industry posted increases in all three key performance measurements during June 2010, according to data from STR.
In year-over-year measurements, the industry's occupancy was up 6.9 percent to 65.0 percent. Average daily rate ended the month with a 1.0-percent increase to US$98.33. Revenue per available room for the month rose 8.0 percent to finish at US$63.87.
"After months of recovering roomnight demand, the U.S. hotel industry finally reported ADR growth in June," said Mark Lomanno, president of STR. "While this is certainly an encouraging sign, virtually all the increase in room rates was found in upper-end hotels and those in New York City. The industry's recovery will not be in full swing until room rate increases are seen in a much wider swath of industry segments."
All of the Top 25 Markets reported increases in occupancy for June. Oahu Island, Hawaii, reported the largest increase, rising 17.5 percent to 78.8 percent, followed by Minneapolis-St. Paul, Minnesota-Wisconsin (+16.4 percent to 71.6 percent), and Denver, Colorado (+15.3 percent to 76.6 percent).
New York, New York, experienced the only double-digit ADR increase among the top markets, up 15.4 percent to US$230.11. New Orleans, Louisiana, dropped 9.2 percent in ADR to US$105.31, reporting the largest decrease in that metric, followed by Detroit, Michigan (-5.8 percent to US$75.73), and Seattle, Washington (-5.7 percent to US$112.02).
New York achieved the largest RevPAR increase, jumping 22.5 percent to US$198.84. Five other markets ended the month with RevPAR increases of more than 15 percent: Chicago, Illinois (+21.4 percent to US$95.96); Minneapolis-St. Paul (+19.3 percent to US$67.47); Denver (+18.5 percent to US$74.89); Oahu Island (+17.4 percent to US$114.63); and Boston, Massachusetts (15.3 percent to US$118.32). Two markets posted RevPAR decreases: New Orleans (-1.6 percent to US$69.06) and Dallas (-1.4 percent to US$47.88). Seattle ended the month virtually flat with a 0.6-percent decrease to US$84.94.
About STR
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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