STR posts results for week ending 6 December
“Continued macroeconomic deterioration is taking its toll on the U.S. lodging industry for another year,” said Jan Freitag, vice president of global development for STR. “This is now four out of the past five weeks that we’ve seen double-digit RevPAR declines, which are driven by double-digit occupancy declines in most major chain scales.”
The Luxury chain-scale segment experienced the biggest drops across the board, including a 13.0-percent decrease in occupancy (61.1 percent), a 7.6-percent drop in ADR (US$285.76) and a 19.7-percent fall in RevPAR (US$174.51). The Midscale without Food and Beverage segment was the only segment to see an increase in any of the three key performance measurements: Its ADR rose 0.3 percent to finish the week at US$86.49 (US$86.25 in 2007).
“The only silver lining is city conventions in Chicago, New Orleans and San Francisco, which account for the double-digit ADR growth for the week,” Freitag added.
Highlights from the Top 25 Markets include:
- New Orleans, LA was the only market to experience an increase in occupancy (+7.9 percent to 60.2 percent).
- The markets that saw the greatest drop in occupancy were Phoenix, AZ (-22.2 percent to 49.6 percent); Seattle, WA (-19.7 percent to 55.1 percent); and San Diego, CA (-18.1 percent to 52.0 percent).
- The markets that experienced the biggest increase in ADR were Chicago, IL (+19.0 percent to US$148.71); San Francisco/San Mateo, CA (+17.0 percent to US$165.22); and New Orleans, LA (+10.0 percent to US$119.67).
- The markets that saw the largest decrease in RevPAR were Phoenix, AZ (-25.4 percent to US$56.75); Atlanta, GA (-24.5 percent to US$48.41); and New York, NY (-22.8 percent to US$283.01).
- The markets that experienced the greatest increase in RevPAR were New Orleans, LA (+18.7 percent to US$72.05); Chicago, IL (+18.4 percent to US$92.33); and San Francisco/San Mateo, CA (+10.6 percent to US$105.06).
About STR & STR Global: For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit .
Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318