STR Reports US Hotel Performance for Week Ending February 26, 2011

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. March 08, 2011

March 7, 2011 - In year-over-year comparisons, occupancy increased 8.4 percent to 59.9 percent, average daily rate was up 3.4 percent to US$99.38, and revenue per available room finished the week up 12.1 percent to US$59.54.

The U.S. hotel industry reported increases in all three key performance metrics during the week of 20-26 February 2011, according to data from STR.

In year-over-year comparisons, occupancy increased 8.4 percent to 59.9 percent, average daily rate was up 3.4 percent to US$99.38, and revenue per available room finished the week up 12.1 percent to US$59.54.

"Orlando led the Top 25 Markets this week with a RevPAR increase of 54.3 percent," said Chad Church, director of special services at STR. "The gains in both occupancy and ADR were driven by a strong week of convention activity and the President's Day holiday. Other regional events, such as the Daytona 500 and the space shuttle launch, may have driven additional leisure demand to the market."

Orlando, Florida, experienced the largest increases in all three key performance metrics among the Top 25 Markets. The market's occupancy rose 32.5 percent to 88.4 percent, ADR was up 16.5 percent to US$111.80, and RevPAR increased 54.3 percent to US$98.86.

Two markets, excluding Orlando, reported occupancy increases of more than 15 percent: Norfolk-Virginia Beach, Virginia (+20.3 percent to 49.7 percent) and Detroit, Michigan (+15.4 percent to 58.4 percent). New Orleans, Louisiana, fell 13.0 percent in occupancy to 66.5 percent, reporting the largest decrease in that metric, followed by Washington, D.C., with a 9.8-percent decrease to 57.0 percent.

Three markets, other than Orlando, achieved double-digit ADR gains: Oahu Island, Hawaii (+15.5 percent to US$167.05); Los Angeles-Long Beach, California (+13.8 percent to US$130.53); and Miami-Hialeah, Florida (+11.5 percent to US$195.24). Washington, D.C., decreased 13.1 percent in ADR to US$132.35, reporting the largest decrease in that metric.

Three markets, excluding Orlando, reported RevPAR increases of more than 20 percent: Los Angeles-Long Beach (+26.5 percent to US$95.33); Oahu Island (+25.0 percent to US$148.77); and Anaheim-Santa Ana, California (+22.6 percent to US$76.45). Washington, D.C., experienced the largest RevPAR decrease, falling 21.6 percent to US$75.43, followed by New Orleans with a 19.4-percent decrease to US$77.21.

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.