STR: US Hotel Results For Week Ending 30 November
During the week of 24-30 November, U.S. hotel occupancy dropped 11.6% to 50.6%, ADR fell 6.7% to $112.28 and RevPAR declined 17.5% to $56.83.
HENDERSONVILLE, Tennessee - The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 24-30 November 2019, according to data from STR.
- Occupancy: -11.6% to 50.6%
- Average daily rate (ADR): -6.7% to US$112.28
- Revenue per available room (RevPAR): -17.5% to US$56.83
STR analysts attribute significant performance declines to comparison of Thanksgiving week in 2019 against the week that followed the holiday in 2018.
Boston, Massachusetts, registered the largest decrease in RevPAR (-47.5% to US$65.18), due primarily to the second-steepest drop in occupancy (-29.7% to 50.7%).
Minneapolis/St. Paul, Minnesota, saw the largest drop in occupancy (-34.3% to 39.0%).
Chicago, Illinois, reported the largest decline in ADR (-26.6% to US$111.73) and the second-largest decrease in RevPAR (-44.6% to US$56.04).
Overall, 21 of the Top 25 Markets reported a RevPAR decrease.
Oahu Island, Hawaii, recorded the highest jump in RevPAR (+21.1% to US$186.36), driven by the only double-digit lift in ADR (+15.4% to US$238.80).
Anaheim/Santa Ana, California, experienced the largest rise in occupancy (+6.7% to 68.1%) and the only other double-digit increase in RevPAR (+14.9% to US$107.27).
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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