STR Reports US Hotel Performance For Week Ending 21 August 2010
Among the Top 25 Markets, Phoenix, Arizona, experienced the largest decrease in all three key performance metrics. The market’s occupancy fell 5.3 percent to 43.5 percent, ADR dropped 6.3 percent to US$70.55, and RevPAR plummeted 11.2 percent to US$30.72.
Detroit, Michigan, achieved the largest occupancy increase, rising 23.9 percent to 67.3 percent, followed by New Orleans, Louisiana (+22.3 percent to 52.9 percent), and St. Louis, Missouri-Illinois (+15.4 percent to 65.5 percent).
Two markets reported double-digit ADR increases: New York, New York (+13.1 percent to US$206.73), and San Francisco/San Mateo, California (+10.4 percent to US$135.02). Following Phoenix, Nashville, Tennessee, fell 5.2-percent in ADR to US$83.73.
New Orleans led the RevPAR increases for the week, rising 27.0 percent to US$45.76, followed by Detroit (+21.8 percent to US$51.62) and Boston, Massachusetts (+20.3 percent to US$116.28).
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Jeff Higley (STR)
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