STR: US hotel results for week ending 22 July
HENDERSONVILLE, Tennessee -- The U.S. hotel industry reported mostly flat year-over-year results in the three key performance metrics during the week of 16-22 July 2017, according to data from STR.
- Occupancy: -0.2% to 78.0%
- Average daily rate (ADR): +0.5% to US$131.86
- Revenue per available room (RevPAR): +0.4% to US$102.85
Among the Top 25 Markets, San Francisco/San Mateo, California, registered the largest year-over-year increase in RevPAR (+9.0% to US$235.25), due primarily to the week's highest rise in ADR (+7.0% to US$249.79).
Norfolk/Virginia Beach, Virginia, posted the week's largest increase in occupancy (+3.0% to 83.4%) and the second-highest rise in RevPAR (+5.4% to US$117.12).
Three Top 25 Markets reported double-digit RevPAR decreases for the week: Chicago, Illinois (-13.6% to US$123.93); Philadelphia, Pennsylvania-New Jersey (-13.4% to US$98.54); and St. Louis, Missouri-Illinois (-12.7% to US$79.94).
Philadelphia reported the only double-digit decrease in ADR (-11.6% to US$127.11).
St. Louis experienced the lone double-digit decline in occupancy (-10.6% to 75.0%).
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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