STR reports US hotel performance for January 2011
"The U.S. hotel industry's march toward a full recovery continued during January," said Mark Lomanno, CEO at STR. "Demand remained strong, while room-rate growth edged slightly higher. The top end of the market continues to outpace the moderately priced hotel offerings. We expect this trend to continue for the next several months."
Among the Top 25 Markets, Detroit, Michigan, achieved the largest occupancy increase, rising 14.4 percent to 50.8 percent, followed by Oahu Island, Hawaii, with an 11.9-percent increase to 80.9 percent. Miami-Hialeah, Florida, ended the month virtually flat with a 0.8-percent decrease to 74.5 percent.
San Francisco/San Mateo, California, reported the largest ADR increase, rising 11.9 percent to US$142.68, followed by Oahu Island with an 8.9-percent increase to US$162.21. Norfolk-Virginia Beach, Virginia (-2.9 percent to US$66.37), and Tampa-St. Petersburg, Florida (-1.4 percent to US$92.57), posted the largest ADR decreases for the month.
Five top markets achieved RevPAR increases of more than 15 percent: San Francisco/San Mateo (+24.5 percent to US$93.52); Oahu Island (+21.9 percent to US$131.24); Detroit (+18.0 percent to US$40.75) Denver, Colorado (+16.2 percent to US$51.20); and New Orleans, Louisiana (+15.9 percent to US$65.98). Norfolk-Virginia Beach ended the month virtually flat with a 0.4-percent decrease to US$23.63, reporting the only decrease in that metric.
Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 16 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.