STR reports U.S. performance for May 2009
“Again in May, industry results were disappointing as they continued the downward spiral seen each month so far this year,” said Mark Lomanno, president of STR. “While demand has not gotten any worse over the past several months, we are becoming increasingly alarmed at the accelerating decline in average room rates. Despite the dismal results throughout the first half of the year, we continue to expect to see better numbers this summer, at least compared to the dreary results to date.”
Highlights from the Top 25 Markets include:
- None of the Top 25 Markets reported increases in any of the three metrics.
- Oahu Island, Hawaii, was the only market to report an occupancy decrease of less than 5 percent, falling 4.9 percent to 69.2 percent.
- Detroit, Michigan, led the occupancy decreases, falling 20.2 percent to 46.7 percent. Other markets to report occupancy decreases of 15 percent or more include: New Orleans, Louisiana (-16.8 percent to 57.0 percent); Houston, Texas (-15.7 percent to 57.0 percent); Chicago, Illinois (-15.6 percent to 59.0 percent); Phoenix, Arizona (-15.5 percent to 49.5 percent); Dallas, Texas (-15.0 percent to 49.1 percent).
- Nashville, Tennessee, reported the smallest ADR decrease, dropping 4.1 percent to US$90.69.
- New York, New York, was the only market to report a drop in ADR of more than 20 percent, falling 29.4 percent to US$201.13.
- Norfolk-Virginia Beach, Virginia, reported a 13.6-percent decrease in RevPAR to US$48.11, the smallest among the Top 25 Markets.
- Six markets reported RevPAR decreases of more than 25 percent: New York (-35.7 percent to US$159.82); Chicago (-29.5 percent to US$70.38); Phoenix (-28.6 percent to US$48.41); Detroit (-27.9 percent to US$36.72); New Orleans (-27.2 percent to US$63.19); and San Diego, California (-26.1 percent to US$77.49).
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 37,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tennessee, and STR Global is based in London. For more information, visit or .