STR Reports US Hotel Occupancy for Week Ending March 31, 2012

Occupancy Up 6.6% to 64.6% and ADR Increases 5.8% to US$105.94

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. April 09, 2012

April 6, 2012 - The U.S. hotel industry experienced increases in all three key performance metrics during the week of 25-31 March 2012, according to data from STR.

In year-over-year comparisons for the week, occupancy was up 6.6 percent to 64.6 percent, average daily rate increased 5.8 percent to US$105.94 and revenue per available room was up 12.8 percent to US$68.42.

“Continued strength in demand and pricing, as well as a favorable calendar comparison (Easter) all contributed to a very strong week for the industry, said Brad Garner, STR's COO. “This week's growth is in line with nominal ADR values we've tracked in previous years [see chart below]. The lead up to Easter in week-over-week comparisons, as far back as 2010, provided extremely easy comparisons, resulting in a favorable ADR and RevPAR environment.”

Among the Top 25 Markets, Phoenix, Arizona, rose 15.9 percent in occupancy to 83.8 percent, reporting the largest increase in that metric, followed by Nashville, Tennessee (+13.2 percent to 74.6 percent), and Boston, Massachusetts (+12.3 percent to 70.7 percent). Minneapolis-St. Paul, Minnesota, fell 3.6 percent in occupancy to 61.0 percent, posting the largest decrease in that metric. New Orleans, Louisiana, jumped 29.2 percent in ADR to US$178.23, achieving the largest increase in that metric, followed by Miami-Hialeah, Florida, with a 14.7-percent increase to US$212.40. Houston, Texas, reported the only ADR decrease, falling 7.1 percent to US$97.09.

Three markets experienced RevPAR increases of more than 25 percent: New Orleans (+42.0 percent to US$138.95); Boston (+27.3 percent to US$104.44); and Phoenix (+26.9 percent to US$117.04). None of the top markets reported RevPAR decreases for the week.