STR Reports US Hotel Performance for Week Ending December 18 - 2010
December 29, 2010 - In year-over-year measurements, the industry's occupancy rose 9.4 percent to 46.5 percent, average daily rate increased 4.1 percent to US$91.66, and revenue per available room went up 14.0 percent to US$42.61.
The U.S. hotel industry posted increases in the three key performance measurements during the week of 12-18 December 2010, according to data from STR.
In year-over-year measurements, the industry's occupancy rose 9.4 percent to 46.5 percent, average daily rate increased 4.1 percent to US$91.66, and revenue per available room went up 14.0 percent to US$42.61.
“The 4.1-percent increase in ADR was partly due to a favorable weekly comparable over Hanukkah, which began on December 12 in 2009 instead of December 2 this year,” said Steve Hood, senior VP of research for STR. “There was also a big bump in group business related to the holiday this year. Overall group occupancy was up 30 percent, and ADR was up 7 percent.”
Orlando, Florida, which hosted two citywide conventions during the week, reported the largest increases in each of the three performance indicators among the Top 25 Markets. The region's occupancy was up 24.6 percent to 53.6 percent, its ADR increased 18.4 percent to US$86.47, and its RevPAR jumped 47.5 percent to US$46.38.
New Orleans, Louisiana, experienced the smallest occupancy growth, increasing 1.7 percent to 45.6 percent.
Three markets, excluding Orlando, posted double-digit ADR gains: New York, New York (+12.8 percent to US$261.91); Oahu Island, Hawaii (+10.4 percent to US$159.26); and San Francisco/San Mateo, California (+10.2 percent to US$129.99). Tampa-St. Petersburg, Florida, reported a 5.6-percent drop in ADR to US$78.57—the largest decrease among the Top 25 Markets.
Oahu Island followed Orlando in RevPAR gains, posting a 37.5-percent increase to US$133.71 for the week. Only two markets posted RevPAR decreases: Tampa-St. Petersburg (-3.3 percent to US$36.86) and New Orleans (-0.4 percent US$41.04).
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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