STR reports US hotel performance for week ending 7 August 2010
The U.S. hotel industry reported increases in all three key performance measurements during the week of 1-7 August 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy increased 6.7 percent to 70.2 percent. Average daily rate rose 1.6 percent to US$99.13. Revenue per available room increased 8.4 percent to US$69.57.
All Top 25 Markets reported occupancy and RevPAR increases for the week.
Detroit, Michigan, achieved the largest occupancy increase, rising 26.1 percent to 69.1 percent. Three other top markets posted occupancy increases of more than 15 percent: Norfolk-Virginia Beach, Virginia (+17.0 percent to 87.5 percent); Tampa-St. Petersburg, Florida (+15.6 percent to 62.4 percent); and Chicago, Illinois (+15.5 percent to 78.9 percent). San Francisco/San Mateo, California (+0.3 percent to 91.1 percent), and Orlando, Florida (+0.2 percent to 68.4 percent) ended the week virtually flat in occupancy.
New York, New York, experienced the only double-digit ADR increase, rising 12.4 percent to US$215.63, followed by Boston, Massachusetts (+6.6 percent to US$137.34), and San Francisco/San Mateo (+6.5 percent to US$143.51). Nashville, Tennessee, reported the largest ADR decrease, falling 5.3 percent to US$80.45.
Detroit increased 22.8 percent in RevPAR to US$52.08, reporting the largest increase in that metric, followed by Chicago (+20.3 percent to US$91.13) and Anaheim-Santa Ana, California (+19.9 percent to US$110.17).
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate 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.
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