STR Reports US Hotel Occupancy Increases During April 2013
Occupancy Increases 3.5% to 63.8% and ADR Increases 3.8% to US$110.02
May 22, 2013 - The U.S. hotel industry reported increases in all three key performance metrics during April 2013, according to data from STR.
Overall, the U.S. hotel industry's occupancy rose 3.5 percent to 63.8 percent, its average daily rate was up 3.8 percent to US$110.02 and its revenue per available room increased 7.5 percent to US$70.24.
“A favorable Easter comparable and replacing a Sunday, typically the softest performing day of the week, with a Tuesday propelled strong April results,” said Brad Garner, STR's COO. “Equal occupancy (3.5 percent) and ADR (3.8 percent) growth contributed to a solid RevPAR growth of 7.5 percent for the month.
“Demand for hotel rooms continues to be steady; however, tougher demand comparables and incremental growth in room supply will be a developing storyline for the remainder of the year and into 2014,” Garner continued. “STR forecasts 2013 demand to grow 2.1 percent and supply to grow 1.0 percent. ADR increases of 4.7 percent and occupancy growth of 1.1 percent will drive RevPAR.”
Among the Top 25 Markets, Minneapolis-St. Paul, Minnesota-Wisconsin, reported the largest occupancy increase, rising 14.2 percent to 69.4 percent. Atlanta, Georgia, followed with a 13.3-percent increase in occupancy to 69.1 percent. Norfolk-Virginia Beach, Virginia, fell 8.8 percent in occupancy to 54.4 percent, posting the largest decrease in that metric.
San Francisco/San Mateo, California, increased 18.5 percent in ADR to 180.41, achieving the largest increase in that metric, followed by Atlanta (+13.6 percent to US$95.62) and Oahu Island, Hawaii (+13.5 percent to US$197.31). Orlando, Florida, fell 1.0 percent in ADR to US$105.66, reporting the largest decrease in that metric.
Four markets experienced RevPAR increases of more than 15 percent: San Francisco/San Mateo (+30.2 percent to US$154.92); Atlanta (+28.8 percent to US$66.09); Oahu Island (+18.6 percent to US$159.72); and Minneapolis-St. Paul (+18.1 percent to US$69.32). Norfolk-Virginia Beach (-8.6 percent to US$43.80) and Orlando (-5.0 percent to US$76.68) reported the largest RevPAR decreases for the month.
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