STR reports US hotel performance for week ending 17 October 2009
The U.S. hotel industry posted declines in all three key performance measurements during the week of 11-17 October 2009, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 8.1 percent to end the week at 58.9 percent. Average daily rate dropped 8.5 percent to finish the week at US$99.14. Revenue per available room for the week decreased 16.0 percent to finish at US$58.42.
Among the Top 25 Markets, San Francisco/San Mateo, California, experienced the largest occupancy increase, jumping 6.4 percent to 90.8 percent. Four markets also reported occupancy increases: Denver, Colorado (+4.2 percent to 62.7 percent); Minneapolis-St. Paul, Minnesota-Wisconsin (+3.9 percent to 65.0 percent); Nashville, Tennessee (+2.2 percent to 62.9 percent); and New York, New York (+1.6 percent to 86.9 percent). Houston, Texas, posted the largest occupancy decrease, falling 31.0 percent to 59.1 percent.
For ADR, Oahu Island, Hawaii (+7.6 percent to US$150.19), and New Orleans, Louisiana (+6.5 percent to US$124.10), were the only two top markets to report increases. New York (-21.2 percent to US$252.84) experienced the largest ADR decrease, followed by Anaheim-Santa Ana, California (-17.4 percent to US$97.23) and Seattle, Washington (-16.6 percent to US$107.88).
San Francisco/San Mateo reported the largest RevPAR increase, rising 6.3 percent to US$159.94, followed by Oahu Island with a 6.1-percent increase to US$117.73. Three markets experienced RevPAR decreases of more than 25 percent: Houston (-41.2 percent to US$55.71); San Diego, California (-28.3 percent to US$74.57); and Seattle (-26.6 percent to US$65.57).
About STR
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.
