STR: U.S. hotel results for week ending 3 November
The U.S. hotel industry reported mostly flat year-over-year results in the three key performance metrics during the week of 28 October through 3 November 2018, according to data from STR.
- Occupancy: -0.7% to 62.9%
- Average daily rate (ADR): +0.7% to US$124.81
- Revenue per available room (RevPAR): -0.1% to US$78.54
Among the Top 25 Markets, Boston, Massachusetts, registered the largest increases in each of the three key performance metrics: occupancy (+8.6% to 80.9%), ADR (+9.2% to US$212.70) and RevPAR (+18.6% to US$171.98).
Norfolk/Virginia Beach, Virginia, saw the second-largest rise in occupancy (+7.7% to 56.6%) and the only other double-digit jump in RevPAR (+11.2% to US$48.23).
Nashville, Tennessee, posted the second-largest lift in ADR (+4.9% to US$150.89).
Houston, Texas, registered the steepest declines in occupancy (-23.5% to 60.6%) and RevPAR (-30.8% to US$61.90). 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.
New Orleans, Louisiana, reported the only double-digit decrease in ADR (-11.7% to US$161.20) and the second-largest drop in RevPAR (-16.8% to US$119.35).
Orlando, Florida, experienced the second-largest decline in occupancy (-13.8% to 63.4%).
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.