STR Reports US Hotel Performance for Week Ending July 17 - 2010
July 22, 2010 - In year-over-year measurements, the industry's occupancy increased 7.3 percent to 71.0 percent. Average daily rate rose 1.6 percent to US$99.07 Revenue per available room went up 9.0 percent to US$70.30.
The U.S. hotel industry reported increases in all three key performance measurements during the week of 11-17 July 2010, according to data from STR.
In year-over-year measurements, the industry's occupancy increased 7.3 percent to 71.0 percent. Average daily rate rose 1.6 percent to US$99.07 Revenue per available room went up 9.0 percent to US$70.30.
Among the Top 25 Markets, 24 achieved occupancy increases for the week. Detroit, Michigan, led the way, rising 21.7 percent to 66.5 percent, followed by Nashville, Tennessee, with a 20.9-percent increase to 78.4 percent. Phoenix, Arizona, posted the only occupancy decrease, falling 3.2 percent to 45.5 percent.
New York, New York, experienced the largest ADR increase, rising 11.8 percent to US$210.33, followed by Washington, D.C. (+10.3 percent to US$142.68), and San Francisco/San Mateo, California (+9.2 percent to US$146.48). St. Louis, Missouri-Illinois, posted the only ADR decrease of more than 5 percent, falling 9.8 percent to US$87.91.
Two markets reported RevPAR increases of more than 20 percent: Denver, Colorado (+21.9 percent to US$82.66), and Nashville (+20.7 percent to US$69.18). Three markets experienced RevPAR decreases: St. Louis (-7.9 percent to US$66.54); Phoenix (-6.4 percent to 33.43); and Houston, Texas (-3.1 percent to US$50.94).
Among the Chain Scale segments, the Luxury segment achieved the largest increases in all three key performance metrics. The segment's occupancy rose 8.4 percent to 75.8 percent, ADR was up 6.0 percent to US$228.26, and RevPAR jumped 14.9 percent to US$173.04.
The Economy segment was the only segment to experience a decrease in any of the three key metrics, falling 2.6 percent in ADR to US$54.21.
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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