STR Reports US Hotel Performance for Week Ending March 19, 2011
March 28, 2011 - In year-over-year comparisons, occupancy increased 5.1 percent to 64.6 percent, ADR was up 3.7 percent to US$102.23, and revenue per available room finished the week up 9.0 percent to US$66.01.
The U.S. hotel industry's average daily rate reported its fifth consecutive increase of more than 3 percent during the week of 13-19 March 2011, according to data from STR.
In year-over-year comparisons, occupancy increased 5.1 percent to 64.6 percent, ADR was up 3.7 percent to US$102.23, and revenue per available room finished the week up 9.0 percent to US$66.01.
“The industry's performance seems to be strengthening after Valentine's Day and heading into Spring Break season,” said Steve Hood, VP of research at STR. “Last week was the fifth straight week with ADR increases in the 3-percent range. It was also the first full week since November with a running 28-day RevPAR percent change in the double digits.”
Among the Top 25 Markets, Norfolk-Virginia Beach, Virginia, achieved the largest occupancy increase, rising 12.5 percent to 52.1 percent, followed by Tampa-St. Petersburg, Florida (+12.4 percent to 88.9 percent), and Miami-Hialeah, Florida (+12.2 percent to 89.7 percent). New York, New York, reported the largest occupancy decrease, falling 5.3 percent to 83.6 percent, followed by Chicago, Illinois, with a 3.0-percent decrease to 60.6 percent.
Two markets posted double-digit ADR increases: San Francisco/San Mateo, California (+19.6 percent to US$144.70), and Miami-Hialeah (+12.0 percent to US$191.75). Atlanta, Georgia, fell 5.8 percent in ADR to US$88.68, reporting the largest decrease in that metric, followed by Denver, Colorado, with a 3.4-percent decrease to US$92.12.
Five markets experienced RevPAR increases of more than 15 percent: San Francisco/San Mateo (+32.5 percent to US$112.54); Miami-Hialeah (+25.7 percent to US$171.98); Tampa-St. Petersburg (+20.0 percent to US$104.13); New Orleans, Louisiana (+18.7 percent to US$110.99); and Houston, Texas (+17.6 percent to US$63.74). Chicago dropped 4.1 percent in RevPAR to US$61.83, 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.
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 
