STR Reports US Hotel Performance for Week Ending October 23 - 2010
October 29, 2010 - In year-over-year comparisons, occupancy increased 8.1 percent to 63.8 percent, average daily rate was up 0.9 percent to US$101.09, and revenue per available room ended the week up 9.1 percent to US$64.46.
The U.S. hotel industry reported increases in all three key performance metrics during the week of 17-23 October 2010, according to data from STR.
In year-over-year comparisons, occupancy increased 8.1 percent to 63.8 percent, average daily rate was up 0.9 percent to US$101.09, and revenue per available room ended the week up 9.1 percent to US$64.46.
Among the Top 25 Markets, Minneapolis-St. Paul, Minnesota-Wisconsin, achieved the largest occupancy increase, rising 19.2 percent to 72.5 percent, followed by Denver, Colorado (+18.8 percent to 71.7 percent), and Detroit, Michigan (+18.1 percent to 60.6 percent).
Philadelphia, Pennsylvania-New Jersey, reported the largest decreases in all three key performance metrics. The Philadelphia Phillies hosted three playoff games for the National League Championship Series during the comparable week in 2009. The market's occupancy fell 6.2 percent to 71.5 percent, ADR was down 12.5 percent to US$112.76, and RevPAR dropped 17.9 percent to US$80.64.
New York, New York, experienced the largest ADR increase, rising 8.8 percent to US$278.60, followed by Boston, Massachusetts, with a 7.7-percent increase to US$168.50.
Three markets reported RevPAR increases of more than 20 percent: Minneapolis-St. Paul (+25.0 percent to US$72.43); Denver, Colorado (+24.2 percent to US$75.39); and Tampa-St. Petersburg, Florida (+20.3 percent to US$53.08).
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.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
