July 2011 sets record for roomnights sold in the U.S. | STR Reports
The U.S. hotel industry in July reported the largest number of rooms sold during a single month, according to data from STR.
"July continues to impress," said Brad Garner, COO at STR. "The industry topped 105 million roomnights sold (for the month), outpacing last year's record-setting 102 million rooms sold. While the demand storyline continues to be very compelling, the broken record of stubborn rate growth is still spinning on the turntable. We're still bullish on demand for hotel rooms, however, given recent economic news, we will be watching to see if consumers tap on the brakes."
Overall, the U.S. hotel industry's occupancy increased 2.9 percent to 69.9 percent, average daily rate ended the month up 3.9 percent to US$103.09, and revenue per available room rose 6.9 percent to US$72.07.
Among the Top 25 Markets, Tampa-St. Petersburg, Florida, reported the largest occupancy increase, rising 13.5 percent to 61.5 percent, followed by Phoenix, Arizona (+11.6 percent to 48.4 percent), and Miami-Hialeah, Florida (+11.4 percent to 75.8 percent). New Orleans, Louisiana, fell 15.6 percent in occupancy to 61.3 percent, reporting the largest occupancy decrease, followed by Oahu Island, Hawaii, with a 6.9 percent decrease to 83.4 percent.
Among the Chain Scale segments, the Luxury segment (+3.5 percent to 74.2 percent) and the Independent segment (+3.4 percent to 68.6 percent) achieved the largest occupancy increases for the month. None of the Chain Scale segments reported occupancy decreases.
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.