STR: US Hotel Results For Week Ending 11 January
U.S. hotel occupancy declined 3.1% to 51.7% during the week of 5-11 January as ADR dropped 4.7% to $120.43 and RevPAR fell 7.7% to $62.30.
HENDERSONVILLE, Tennessee - The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 5-11 January 2020, according to data from STR.
- Occupancy: -3.1% to 51.7%
- Average daily rate (ADR): -4.7% to US$120.43
- Revenue per available room (RevPAR): -7.7% to US$62.30
San Francisco/San Mateo, California, posted the steepest decline in RevPAR (-69.4% to US$124.53), due primarily to the largest drop in ADR (-62.3% to US$196.04). The market recorded the second-largest decrease in occupancy (-18.9% to 63.5%). STR analysts note that the calendar shift of the 38th Annual J.P. Morgan Healthcare Conference significantly affected San Francisco's performance comparisons for the week.
Atlanta, Georgia, experienced the steepest drop in occupancy (-19.0% to 55.6%) and the second-largest declines in ADR (-19.2% to US$103.77) and RevPAR (-34.5% to US$57.74).
Nashville, Tennessee, saw the only other double-digit drop in RevPAR (-12.3% to US$67.39).
Overall, 18 of the Top 25 Markets reported a RevPAR decrease.
Oahu Island, Hawaii, registered the only double-digit rise in occupancy (+10.1% to 86.3%).
New Orleans, Louisiana, posted the largest lift in ADR (+8.8% to US$146.39).
Dallas, Texas, recorded the highest jump in RevPAR (+15.3% to US$74.14).
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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