STR reports US performance for July 2009
Among the Top 25 Markets, New Orleans, Louisiana, was the only market to report increases in two of the three key metrics. The market increased 2.7 percent in occupancy to 64.6 percent and was up 2.2 percent in RevPAR to US$66.49.
Only two of the Top 25 Markets experienced double-digit occupancy declines. Detroit, Michigan, fell 19.4 percent to 51.4 percent. Houston, Texas, dropped 15.1 percent to 55.2 percent.
New Orleans had virtually flat ADR change for the month, dropping 0.5 percent to US$102.85. Norfolk-Virginia Beach, Virginia, also reported a small ADR decrease, down 5.1 percent to US$105.59. New York, New York, reported the largest fall in ADR with a 27.3-percent decrease to US$182.70. Two other markets experienced ADR decreases of more than 15 percent: San Francisco/San Mateo, California (-17.2 percent to US$128.78) and Oahu Island, Hawaii (-15.6 percent to US$149.11).
Norfolk-Virginia Beach was the only market to post a single-digit RevPAR decrease, down 9.1 percent to US$77.00. Six markets experienced RevPAR declines of more than 20 percent: New York (-32.1 percent to US$147.30); Detroit (-27.4 percent to US$38.99); Houston (-24.1 percent to US$47.22); Los Angeles-Long Beach, California (-21.7 percent to US$81.10); Denver, Colorado (-21.5 percent to US$64.50); and San Francisco/San Mateo (-20.3 percent to US$106.03).
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.