STR posts U.S. results for week ending 4 April 2009
Detroit, Michigan, was the only market among the Top 25 Markets to report increases in both ADR (+12.0 percent to US$97.86) and RevPAR (+8.3 percent to US$50.83). The market benefitted from an influx of travelers who attended the Final Four and NCAA men’s basketball championship help 4-6 April.
Among the remaining Top 25 Markets, Norfolk-Virginia Beach, Virginia, was the only market to report an increase in occupancy, which rose 1.6 percent to 52.7 percent. Chicago, Illinois, saw a 22.0-percent drop in occupancy to 51.8 percent-the largest decrease in that metric. Four markets reported ADR decreases larger than 15 percent, they include: New York, New York (-24.9 percent to US$199.03); Chicago (-24.0 percent to US$110.99); Anaheim-Santa Ana, California (-17.1 percent to US$106.65); and Phoenix, Arizona (-16.2 percent to US$127.86). The smallest RevPAR decreases were reported by Norfolk-Virginia Beach (-1.5 percent to US$41.74) and Houston, Texas (-3.9 percent to US$63.88). Three markets reported RevPAR decreases of more than 30 percent, including: Chicago (-40.7percent to US$57.50); New York (-33.1 percent to US$142.02); and Anaheim-Santa Ana (-30.7 percent to US$65.91).