STR: US Hotel Results For Week Ending 23 November
U.S. hotel occupancy rose 17.7% to 61.2% during the week of 17-23 November while ADR increased 10.8% to $124.71 and RevPAR jumped 30.4% to $76.32.
HENDERSONVILLE, Tennessee - The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 17-23 November 2019, according to data from STR.
- Occupancy: +17.7% to 61.2%
- Average daily rate (ADR): +10.8% to US$124.71
- Revenue per available room (RevPAR): +30.4% to US$76.32
STR analysts note the positive performance is due to the year-over-year comparison with the week of Thanksgiving in 2018.
San Francisco/San Mateo, California, registered the largest increases in each of the three key performance metrics: occupancy (+57.9% to 84.2%), ADR (+143.3% to US$376.17) and RevPAR (+284.2% to US$316.80). Along with the Thanksgiving calendar shift, the high performance gains are also attributable to Dreamforce (19-22 November 2019), which welcomed approximately 170,000 attendees.
Washington, D.C.-Maryland-Virginia, recorded the second-highest rises in occupancy (+55.8% to 70.9%) and ADR (+48.0% to US$157.32), which resulted in the second-largest jump in RevPAR (+130.7% to US$111.49).
Denver, Colorado, saw the third-largest increase in RevPAR (+97.1% to US$95.21).
New Orleans, Louisiana, reported the only decline in RevPAR (-2.6% to US$88.86), due to the second-largest drop in ADR (-5.3% to US$136.29).
Miami/Hialeah, Florida, posted the only other decrease in ADR (-6.7% to US$166.87).
None of the Top 25 Markets experienced a dip in occupancy.
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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