STR: US hotel results for week ending 29 July
HENDERSONVILLE, Tennessee -- The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 23-29 July 2017, according to data from STR.
- Occupancy: +0.3% to 77.4%
- Average daily rate (ADR): +1.2% to US$132.21
- Revenue per available room (RevPAR): +1.5% to US$102.39
Among the Top 25 Markets, St. Louis, Missouri-Illinois, registered the largest year-over-year increase in each of the three key performance metrics: occupancy (+12.0 to 82.6%), ADR (+14.7% to US$115.63) and RevPAR (+28.5% to US$95.53).
Three additional markets reported double-digit RevPAR growth for the week: New Orleans, Louisiana (+13.6% to US$82.39); Miami/Hialeah, Florida (+10.4% to US$143.08); and Detroit, Michigan (+10.0% to US$80.56).
Due to a comparison with the week of the 2016 Democratic National Convention,Philadelphia, Pennsylvania-New Jersey, reported the week's largest decrease across the three metrics: occupancy (-12.0% to 75.9%), ADR (-47.1% to US$124.06) and RevPAR (-53.4% to USD$94.17).
Chicago, Illinois, reported the second-largest decline in occupancy (-7.4% to 82.1%) and the only other double-digit decreases in ADR (-11.5% to US$144.82) and RevPAR (-18.0% to USD118.91).
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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