U.S. Key figures fall during week ending 08 Nov
“Last week’s elections drove results down significantly,” said Brad Garner, vice president of operations/client services for STR. “Occupancy levels for Monday and Tuesday were off over 20 percent, with softness in the remaining days of the week approaching minus 10 percent.”
Some key findings for the week included:
- Houston, Texas, posted positive occupancy gains of 9.3 percent over last year on a 5.0-percent increase in ADR, while all other Top 25 markets experienced declines in occupancy.
- Interstate and Small Metro/Town locations were able to increase rates over last year by 2.5 percent and 1.8 percent, respectively, on declines of 11.0 percent in occupancy levels.
- The Luxury and Upper Upscale segments experienced RevPAR declines of 23.3 percent and 20.2 percent, respectively. The Economy segment experienced the lowest RevPAR decline at 12.2 percent.
- The Midscale without Food and Beverage segment had the best performance in ADR, declining 0.2 percent. The Luxury segment’s ADR fell 7.0 percent.
- Wednesday, 05 November was the best day of the week for ADR, posting an average rate of US$109.09; Sunday, 02 November, was the lightest ADR day at US$102.29.
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Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318