STR reports U.S. hotel industry performance results for third quarter 2009
Year-to-date 2009, the industry’s occupancy fell 9.9 percent to 56.6 percent, ADR dropped 9.1 percent to US$98.01, and RevPAR decreased 18.1 percent to US$55.48.
“Third quarter U.S. lodging industry performance improved marginally from the first two quarters of 2009, but remained weak,” said Bobby Bowers, senior vice president at STR. “The industry has now experienced five consecutive quarterly RevPAR declines and eight consecutive quarterly occupancy declines. Fourth quarter comparables will be much easier, but we still expect negative industry RevPAR movement for the remainder of 2009 and most of 2010.”
Among the Top 25 Markets, only Oahu Island, Hawaii, came in virtually flat in occupancy for the third quarter, down 0.4 percent to 77.0 percent. Five top markets experienced double-digit occupancy decreases: Houston, Texas (-19.4 percent to 52.3 percent); Detroit, Michigan (-15.2 percent to 52.3 percent); Dallas, Texas (-14.9 percent to 52.0 percent); Phoenix, Arizona (-12.0 percent to 44.8 percent); and New Orleans, Louisiana (-11.3 percent to 51.6 percent).
Norfolk-Virginia Beach, Virginia, posted the smallest decrease in ADR, which was down 5.0 percent to US$99.03. New York, New York, reported the largest ADR decrease, falling 25.4 percent to US$205.75. Denver, Colorado, also experienced an ADR decrease of more than 20 percent, falling 21.3 percent to US$90.72.
Norfolk-Virginia Beach was the only top market to report a single-digit RevPAR decrease for the quarter, falling 8.0 percent to US$64.68. Detroit (-28.6 percent to US$61.64) and Houston (-28.6 percent to US$45.37) experienced the largest RevPAR decreases, followed by New York with a 28.5-percent decrease to US$170.80.
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.