STR - US Hotel Performance for January 2011
February 26, 2011 - In year-over-year measurements, the industry's occupancy was up 5.8 percent to 47.7 percent. Average daily rate ended the month with a 2.8-percent increase to US$96.64. Revenue per available room for the month rose 8.7 percent to finish at US$46.10.
The U.S. hotel industry posted increases in all three key performance measurements during January 2011, according to data from STR.
In year-over-year measurements, the industry's occupancy was up 5.8 percent to 47.7 percent. Average daily rate ended the month with a 2.8-percent increase to US$96.64. Revenue per available room for the month rose 8.7 percent to finish at US$46.10.
"The U.S. hotel industry's march toward a full recovery continued during January,” said Mark Lomanno, CEO at STR. “Demand remained strong, while room-rate growth edged slightly higher. The top end of the market continues to outpace the moderately priced hotel offerings. We expect this trend to continue for the next several months."
Among the Top 25 Markets, Detroit, Michigan, achieved the largest occupancy increase, rising 14.4 percent to 50.8 percent, followed by Oahu Island, Hawaii, with an 11.9-percent increase to 80.9 percent. Miami-Hialeah, Florida, ended the month virtually flat with a 0.8-percent decrease to 74.5 percent.
San Francisco/San Mateo, California, reported the largest ADR increase, rising 11.9 percent to US$142.68, followed by Oahu Island with an 8.9-percent increase to US$162.21. Norfolk-Virginia Beach, Virginia (-2.9 percent to US$66.37), and Tampa-St. Petersburg, Florida (-1.4 percent to US$92.57), posted the largest ADR decreases for the month.
Five top markets achieved RevPAR increases of more than 15 percent: San Francisco/San Mateo (+24.5 percent to US$93.52); Oahu Island (+21.9 percent to US$131.24); Detroit (+18.0 percent to US$40.75) Denver, Colorado (+16.2 percent to US$51.20); and New Orleans, Louisiana (+15.9 percent to US$65.98). Norfolk-Virginia Beach ended the month virtually flat with a 0.4-percent decrease to US$23.63, reporting the only decrease in that metric.
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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