US results for 24-30 May 2009 | STR
The U.S. hotel industry posted declines in all three key performance measurements during the week of 24-30 May 2009, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 10.2 percent to end the week at 51.6 percent. Average daily rate dropped 9.6 percent to finish the week at US$93.00. Revenue per available room for the week decreased 18.9 percent to finish at US$47.96.
Among the Top 25 Markets, Denver, Colorado, was the only market to report an increase in occupancy, which was up 1.4 percent to 56.0 percent. Detroit, Michigan, reported the largest occupancy decrease, down 22.0 percent to 42.9 percent. Other markets to report occupancy decreases of more than 20 percent include: New Orleans, Louisiana (-20.8 percent to 44.2 percent) and St. Louis, Missouri-Illinois (-20.2 percent to 45.9 percent).
Orlando, Florida, was the only market to report increases in two of the three key metrics, posting a 16.5-percent jump in ADR to US$107.06 and a 9.1-percent surge in RevPAR to US$60.11 Chicago, Illinois, reported the largest decrease in ADR, which was down 26.5 percent to US$109.28. New York, New York, followed closely, reporting an ADR decrease of 26.4 percent to US$188.03.
Chicago also reported the largest RevPAR decrease, down 37.7 percent to US$58.71. Three other markets reported decreases of more than 30 percent: Detroit (-32.5 percent to US$32.48); St. Louis (-30.5 percent to US$34.37); and New York (-30.2 percent to US$140.06).
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STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
