STR reports US performance for week ending 18 July 2009
Two of the Top 25 Markets reported increases in all three key performance measurements for the week. New Orleans, Louisiana, was up in occupancy 7.1 percent to 68.6 percent, rose in ADR 4.7 percent to US$102.79 and increased in RevPAR 12.2 percent to US$70.55. St. Louis, Missouri-Illinois, which received a boost playing host to the 2009 Major League Baseball All-Star Game on July 14, 2009, was virtually flat in occupancy with a 0.4-percent increase to 74.3 percent. The market was up 5.1 percent to US$97.72 in ADR and 5.5 percent to US$72.57 in RevPAR.
The Top 25 Markets reported mixed results in year-over-year comparisons. Other performance highlights include:
- San Diego, California, experienced a 2.5-percent increase in occupancy to 85.4 percent. Oahu Island, Hawaii, was virtually flat in occupancy for the week with a 0.5-percent increase to 88.2 percent.
- Detroit, Michigan (-14.7 percent to 54.6 percent) and Houston, Texas (-14.7 percent to 59.4 percent) posted the largest occupancy decreases, followed by Atlanta, Georgia (-14.5 percent to 63.0 percent) and Miami-Hialeah, Florida (-14.5 percent to 64.4 percent).
- New York, New York, reported the largest drop in ADR, which was down 29.3 percent to US$188.37. Three other markets experienced ADR decreases of more than 15 percent: San Francisco/San Mateo, California (-22.2 percent to US$134.38); Oahu Island (-15.5 percent to US$154.24); and Los Angeles-Long Beach, California (-15.4 percent to US$117.99).
- Two of the Top 25 Markets reported single-digit RevPAR decreases: Boston, Massachusetts (-9.4 percent to US$108.86) and San Diego (-8.1 percent to US$116.96).
- Four markets posted RevPAR declines of more than 25 percent: New York (-34.3 percent to US$157.51); Atlanta (-26.8 percent to US$53.93); San Francisco/San Mateo (-25.4 percent to US$115.16); and Los Angeles-Long Beach (-25.2 percent to US$86.68).
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.