Hurricane Katrina's Impact on the US Lodging Industry
STR increases RevPAR growth projection for 2005
Smith Travel Research (STR) Reports
All chain affiliated properties and most large independent hotels are STR clients and regular users of the STAR report. This unmatched access to hotel owners and operators allows STR to measure the impact of the hurricane on the local hotel industry with a high level of confidence. Chains and independent operators are in constant contact with STR to update their room availability and report room demand.
In addition, STR proactively contacts hotels in the affected area to verify their status. Based on the information gathered from clients and by independent verification STR approximates that the closing of affected properties decreases national room supply by 0.3% for the remainder of 2005. At the same time, the increase in lodging demand is estimated at 0.1% with a slight, 0.2%, increase in ADR. The combination of these adjusted supply and demand numbers will impact 2005 US RevPAR growth by 0.6%.
The revised STR projections are as follows:
Total US Absolute Figures Year-End 2005
If you have any questions about the number of hotels closed for business or destroyed by hurricane Katrina please contact Bobby Bowers, SVP; Brad Garner, director, or Jan D. Freitag, director at 615-824-8664.
About SMITH TRAVEL RESEARCH (STR): STR is the recognized leader in US Lodging Industry benchmarking. For 20 years STR has collected monthly and daily operating data and reported on the state of the Lodging industry. Currently over 23,000 hotels participate in the Monthly STAR program. If you wish to learn more about The HOST Data Service, Historical TRENDS, the STAR program or other STR Services please call (615) 824- 8664 or visit our web site: .