STR: U.S. hotel results for week ending 6 October
In comparison with the week of 1-7 October 2017, the industry recorded the following:
- Occupancy: -0.9% to 70.9%
- Average daily rate (ADR): +2.4% to US$134.03
- Revenue per available room (RevPAR): +1.5% to US$95.05
Among the Top 25 Markets, New Orleans, Louisiana, registered the largest increases in each of the three key performance metrics: occupancy (+25.9% to 73.5%), ADR (+25.4% to US$168.75) and RevPAR (+57.8% to US$123.99).
New York, New York, saw the second-largest increase in RevPAR (+11.7% to US$309.67).
Philadelphia, Pennsylvania-New Jersey, posted the second-highest rise in occupancy (+5.5% to 80.2%) and the third-largest jump in RevPAR (+11.3% to US$120.77).
Overall, 16 of the Top 25 Markets reported an increase in RevPAR.
Houston, Texas, experienced the steepest declines in occupancy (-26.7% to 62.8%) and RevPAR (-31.5% to US$67.08). Houston's hotel performance was lifted in the weeks and months that followed Hurricane Harvey in 2017 as properties filled with displaced residents, relief workers, insurance adjustors, media members, etc.
San Francisco/San Mateo, California, posted the only double-digit drop in ADR (-10.6% to US$270.26).
Tampa/St. Petersburg, Florida, saw the second-largest decrease in occupancy (-13.6% to 66.4%), resulting in the third-largest decrease in RevPAR (-14.1% to US$79.16).
Orlando, Florida, registered the second-largest decline in RevPAR (-15.0% to US$92.71), due primarily to the only other double-digit drop in occupancy (-12.0% to 72.8%).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.