STR reports US hotel performance for week ending 23 January 2010

The U.S. hotel industry reported decreases in all three key measurements during the week of 17-23 January 2010, according to data from STR.

In year-over-year measurements, the industry’s occupancy ended the week virtually flat with an 0.9-percent decrease to 46.8 percent. Average daily rate dropped 9.4 percent to finish the week at US$93.87. Revenue per available room for the week fell 10.3 percent to finish at US$43.89.

Among the Chain Scale segments, three segments ended the week with occupancy increases: the Luxury segment (+7.7 percent to 59.0 percent); the Upper Upscale segment (+5.5 percent to 58.7 percent); and the Upscale segment (+4.0 percent to 56.7 percent).

As a result of Barack Obama’s inauguration, held Tuesday, 20 January 2009 in Washington, D.C., the market reported the largest year-over-year decreases in all three key performance metrics: Occupancy fell 15.8 percent to 51.6 percent, ADR dropped 48.3 percent to US$135.69, and RevPAR decreased 56.4 percent to 70.02.

Among the Top 25 Markets, Boston, Massachusetts, experienced the largest occupancy increase, jumping 18.8 percent to 50.9 percent, followed by Detroit, Michigan (+13.1 percent to 48.4 percent) and New York, New York (+11.2 percent to 61.8 percent).

None of the top markets ended the week with ADR increases. Nashville, Tennessee, posted the smallest ADR decrease, falling 2.7 percent to US$88.70. New Orleans, Louisiana, fell 20.4 percent to US$104.23-the largest ADR decline excluding Washington, D.C.

Boston also experienced the largest RevPAR increase, up 11.5 percent to US$58.38, followed by Detroit (+3.3 percent to US$36.88), Nashville (+0.5 percent to US$39.77), and New York (+0.5 percent to US$107.21). Other than Washington, D.C., two markets reported RevPAR decreases of more than 20 percent: New Orleans (-24.2 percent to US$53.28) and Houston, Texas (-21.9 percent to US$50.07).

About STR | STR (www.str.com) provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering the United State, Canada, 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. STR also founded the Hotel Data Conference (www.Hoteldataconference.com).

US hotel performance for week ending 23 January 2010 The U.S. hotel industry reported decreases in all three key measurements during the week of 17-23 January 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy en... Adobe PDF Document (Download Acrobat Reader) File Size: 24 Kb - Monday, 01 February 2010