STR: US Hotel Performance For February
The U.S. hotel industry in February reported increases in all three key performance metrics, according to data from STR. Overall, the U.S. hotel industry’s occupancy rose 3.5 percent to 57.4 percent, its average daily rate was up 4.0 percent to US$103.18 and its revenue per available room increased 7.7 percent to US$59.21.
HENDERSONVILLE, Tennessee -- The U.S. hotel industry in February reported increases in all three key performance metrics, according to data from STR.
Overall, the U.S. hotel industry’s occupancy rose 3.5 percent to 57.4 percent, its average daily rate was up 4.0 percent to US$103.18 and its revenue per available room increased 7.7 percent to US$59.21.
“The notable February RevPAR growth rate was fueled by both occupancy and ADR gains,” STR President Amanda Hite said. “As demand and occupancy comparisons become more difficult throughout the year, room rates become increasingly important in maintaining our current levels of RevPAR growth.”
Among the Top 25 Markets, Houston, Texas, achieved the largest occupancy increase, rising 11.9 percent to 68.7 percent, followed by Nashville, Tennessee, with a 9.5-percent increase to 60.2 percent. Phoenix, Arizona (-2.8 percent to 70.6 percent), and Dallas, Texas (-2.5 percent to 60.8 percent), reported the largest occupancy decreases.
San Francisco/San Mateo, California (+16.1 percent to US$168.31), and New Orleans, Louisiana (+14.5 percent to US$147.07), posted the only double-digit ADR increases for the month.
Dallas reported the largest decreases in ADR (-15.9 percent to US$90.66) and RevPAR (-18.0 percent to US$55.14).
Three markets experienced RevPAR increases of more than 15 percent: San Francisco/San Mateo (+20.5 percent to US$123.80); New Orleans (+19.7 percent to US$102.76); and Houston (+17.4 percent to US$66.96).
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