STR Reports US Hotel Performance Week Ending September 4 - 2010
September 10, 2010 - In year-over-year comparisons, occupancy increased 7.5 percent to 57.4 percent, average daily rate was up 2.1 percent to US$94.37, and revenue per available room rose 9.7 percent to US$54.16.
The U.S. hotel industry reported increases in all three key performance metrics during the week of 29 August-4 September 2010, according to data from STR.
In year-over-year comparisons, occupancy increased 7.5 percent to 57.4 percent, average daily rate was up 2.1 percent to US$94.37, and revenue per available room rose 9.7 percent to US$54.16.
This was the 13th consecutive week the U.S. reported overall ADR increases. Before this trend emerged, ADR in decreased 74 of the past 76 weeks.
“Thirteen consecutive weeks of ADR improvement show that the industry now trusts the positive demand trends that emerged earlier in the year,” said Chad Church, director of special services at STR. “ Hoteliers have raised their rates, and the consumer continues to travel.
“We're currently in the midst of the easiest year-over-year comparison weeks for ADR in 2010,” Church continued. “After experiencing double-digit ADR declines throughout September 2009, we expect to continue to see positive gains in the near term.”
Among the Top 25 Markets, every one reported an occupancy increase. Detroit, Michigan, achieved the highest occupancy increase, rising 25.6 percent to 58.9 percent, followed by New Orleans, Louisiana, with a 20.8-percent increase to 48.0 percent. San Diego, California, ended the week flat at 66.0 percent.
New York, New York, rose 13.0 percent in ADR to US$217.32, reporting the largest increase in that metric, followed by Orlando, Florida (+9.9 percent to US$74.89), and Oahu Island, Hawaii (+8.2 percent to US$153.69). Houston, Texas (-3.5 percent to US$82.41), and Nashville, Tennessee (-3.1 percent to US$81.18), reported the largest ADR decreases for the week.
All of the top markets reported RevPAR decreases for the week. Four markets experienced RevPAR increases of more than 20 percent: New Orleans (+27.7 percent to US$42.40); Detroit (+26.3 percent to US$43.19); Orlando (+25.3 percent to US$34.08); and Oahu Island (+22.5 percent to US$128.49).
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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