STR: US hotel results for week ending 4 June
Affected significantly by a Memorial Day calendar shift, the industry's occupancy decreased 6.8% to 64.6%. Average daily rate was flat at US$118.45. Revenue per available room dropped 6.8% to US$76.56.
Every Top 25 Market experienced a decline in occupancy for the week. Thirteen of those markets reported an increase in ADR, and eight saw RevPAR grow for the week.
Norfolk/Virginia Beach, Virginia, posted the largest increases in ADR (+7.4% to US$111.76) and RevPAR (+5.9% to US$68.00).
Minneapolis/St. Paul, Minnesota-Wisconsin, reported the largest decreases in occupancy (-21.7% to 60.9%) and RevPAR (-29.4% to US$64.43). ADR in the market was down 9.8% to US$105.79.
Four additional markets experienced a drop in RevPAR larger than 20.0%: Boston, Massachusetts (-25.6% to US$145.59); Houston, Texas (-24.3% to US$58.62); New York, New York (-21.9% to US$206.87); and Seattle, Washington (-20.8% to US$110.93).
Two markets reported a double-digit decrease in ADR: New York (-15.7% to US$245.60) and Washington, D.C.-Maryland-Virginia (-10.8% to US$140.13).
After Minneapolis/St. Paul, three other markets saw occupancy fall by more than 15.0%: Houston (-18.2% to 59.3%), Boston (-18.0% to 73.9%) and Seattle (-15.1% to 73.8%).
Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318
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.