STR: U.S. Hotel Results For Week Ending 29 June
U.S. hotel occupancy fell 0.5% to 75.5% during the week of 23-29 June, but a 1.4% increase in ADR to $133.83 kept RevPAR up 0.9% to $100.99.
HENDERSONVILLE, Tennessee — The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 23-29 June 2019, according to data from STR.
- Occupancy: -0.5% to 75.5%
- Average daily rate (ADR): +1.4% to US$133.83
- Revenue per available room (RevPAR): +0.9% to US$100.99
Among the Top 25 Markets, Philadelphia, Pennsylvania, posted the largest jump in RevPAR (+17.8% to US$130.69), driven by the only double-digit lift in ADR (+12.9% to US$154.82). The market saw the second-highest increase in occupancy (+4.3% to 84.4%).
Phoenix, Arizona, experienced the largest rise in occupancy (+6.6% to 67.3%) and the only other double-digit increase in RevPAR (+13.8% to US$65.40).
Detroit, Michigan, saw the steepest decline in RevPAR (-18.1% to US$80.96), due primarily to the only double-digit drop in occupancy (-13.1% to US$74.9%). ADR in the market fell 5.8% to US$108.03.
Houston, Texas, registered the largest decrease in ADR (-6.3% to US$99.39).
Denver, Colorado, reported the second-largest declines in occupancy (-6.7% to 88.0%) and RevPAR (-10.7% to US$138.39).
Overall, 17 of the Top 25 Markets saw a RevPAR decrease.
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.
Phone: +1 (615) 824 8664 ext. 3305