Source: STR

HENDERSONVILLE, Tennessee – The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 1-7 July 2018, according to data from STR.

In comparison with the week of 2-8 July 2017, the industry recorded the following:

  • Occupancy: -3.1% to 63.5%
  • Average daily rate (ADR): +1.1% to US$123.59
  • Revenue per available room (RevPAR): -2.0% to US$78.47

STR analysts note that occupancy declines were mostly a result of the Fourth of July holiday, especially early in the week.

Among the Top 25 Markets, New Orleans, Louisiana, posted the largest jump in RevPAR (+45.6% US$117.55), due to the only double-digit lift in ADR (+43.9% US$182.77).

Phoenix, Arizona, experienced the highest rise in occupancy (+10.3% to 52.9%) and the second-largest increase in RevPAR (+18.6% to US$46.18).

Detroit, Michigan, reported the only other double-digit increase in RevPAR (+16.3% to US$58.83) due to the second-largest increases in occupancy (+6.9% to 61.5%) and ADR (+8.8% to US$95.73).

Overall, 13 of the Top 25 Markets reported an increase in RevPAR.

Boston, Massachusetts, registered the steepest declines in ADR (-9.5% to US$157.97) and RevPAR (-18.1% to US$97.89).

St. Louis, Missouri-Illinois, experienced the largest drop in occupancy (-12.3% to 58.4%).

Chicago, Illinois, reported the second-largest decreases in each of the three key performance metrics: occupancy (-10.3% to 61.6%), ADR (-7.8% to US$118.99) and RevPAR (-17.3% to US$73.33).

About STR

STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.

Nick Minerd
Public Relations Coordinator
+1 (615) 824 8664 ext. 3305
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