Source: STR

The U.S. hotel industry experienced positive results in the three key performance metrics during the week of 23-29 September 2012, according to data from STR. In year-over-year comparisons, occupancy rose 2.5 percent to 64.2 percent, average daily rate was up 5.4 percent to US$106.60 and revenue per available increased 8.0 percent to US$68.43.

Among the Top 25 Markets, New Orleans, Louisiana, rose 27.7 percent in occupancy to 71.6 percent, reporting the largest increase in that metric. Chicago, Illinois, followed with a 19.1-percent increase in occupancy to 78.7 percent. Philadelphia, Pennsylvania-New Jersey, posted the largest occupancy decrease, down 5.8 percent to 68.8 percent, followed by Washington, D.C., with a 3.9-percent decrease to 67.9 percent.

Chicago achieved the largest ADR increase, rising 16.4 percent to US$143.80, followed by New York, New York, with a 16.1-percent increase to US$312.83. Washington, D.C., fell 6.2 percent in ADR to US$142.23, posting the largest decrease in that metric.

Four markets experienced RevPAR increases of more than 20 percent: New Orleans (+41.2 percent to US$85.94); Chicago (+38.7 percent to US$113.21); Seattle, Washington (+21.6 percent to US$101.28); and Houston, Texas (+20.6 percent to US$66.02). Washington, D.C., fell 9.9 percent in RevPAR to US$96.64, posting the largest decrease in that metric.

About STR

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.