STR reports U.S. performance for week ending 11 July 2009
Among the Top 25 Markets, New Orleans, Louisiana, was the only market to report increases in all three key metrics. Occupancy rose 4.1 percent to 59.2 percent; ADR increased 1.2 percent to US$100.96; and RevPAR reported a 5.3-percent jump to US$59.75.
Other highlights from the Top 25 Markets include (in year-over-year comparisons):
- Minneapolis-St. Paul, Minnesota-Wisconsin, was virtually flat in occupancy change for the week, reporting a 0.1-percent decrease to 67.5 percent. The market also reported the smallest decrease in both ADR and RevPAR, down 2.4 percent to US$95.99 and 2.5 percent to US$64.81, respectively.
- Two markets reported occupancy decreases of more than 20 percent: Houston, Texas (-22.6 percent to 53.0 percent), and Detroit, Michigan (-20.2 percent to 49.5 percent).
- New York, New York, experienced the largest decrease in ADR, dropping 26.6 percent to US$179.83. Four other markets reported ADR decreases of more than 15 percent: San Francisco/San Mateo, California (-19.7 percent to US$117.95); Oahu Island, Hawaii (-18.1 percent to US$149.05); Houston (-17.9 percent to US$85.66); and San Diego, California (-15.3 percent to US$124.30).
- Six markets reported RevPAR decreases of 25 percent or more: Houston (-36.5 percent to US$45.43); New York (-32.0 percent to US$134.69); Detroit (-28.0 percent to US$36.97); San Francisco/San Mateo (-25.7 percent to US$88.70); Los Angeles-Long Beach (-25.6 percent to US$72.73); and Nashville, Tennessee (-25.0 percent to US$47.72).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.