STR reports U.S. hotel performance for the week ending 7 February 2009
Of the Top 25 markets, Tampa-St. Petersburg, Florida, felt the positive effects of hosting Super Bowl XLIII on 1 February, posting increases in two of the three key performance measurements. The market finished the week with a 19.0-percent increase in ADR to US$140.33 (US$117.97 in 2008). RevPAR increased 11.0 percent, ending the week at US$89.66 (US$80.78 in 2008). Occupancy was the only category in which the market ended the week down, as it decreased 6.7 percent to finish at 63.9 percent (68.5 percent in 2008).
Houston, Texas, was the only other Top 25 market to post an increase for the week, as its ADR rose 1.7 percent to finish the week at US$106.15 (US$104.38 in 2008). However, Houston’s occupancy fell 9.9 percent to finish the week at 62.9 percent, and its RevPAR declined 8.4 percent to end the week at US$66.73.
Of the remaining Top 25 markets, 10 had occupancy decreases of more than 20 percent. Those markets include: Anaheim-Santa Ana, California (-22.6 percent, to finish the week at 49.6 percent); Chicago, Illinois (-23.0 percent to finish at 40.3 percent); Denver, Colorado (-24.8 percent to finish at 42.9 percent); Detroit, Michigan (-20.6 percent to finish at 40.7 percent); Minneapolis- St. Paul, Minnesota(-20.2 percent to finish at 44.4 percent); New York, New York (-27.5 percent to finish at 56.5 percent); Orlando, Florida (-21.0 percent to finish the week at 54.6 percent); Phoenix, Arizona (-24.8 percent to finish the week at 53.5 percent); and San Francisco-San Mateo, California (-23.2 percent to finish the week at 53.6 percent).
Three of the Top 25 markets finished the week with RevPAR decreases of more than 40 percent. New York ended the week with a 43.8-percent decrease to finish the week at US$110.15. Phoenix experienced a 44.7-percent decrease to end at US$73.61, and San Francisco-San Mateo’s RevPAR fell 41.3 percent for the week, ending at US$69.27.
All seven chain-scale segments were down across the board. The Luxury segment led the decline in all three measurements. It ended the week down 21.4 percent in occupancy to end the week at 54.2 percent, down 16.3 percent down in ADR to finish at US$252.67, and down 34.2 percent in RevPAR to finish at US$136.87.
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Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318