Source: STR

The U.S. hotel industry experienced positive results in the three key performance metrics during the week of 11-17 November 2012, according to data from STR. In year-over-year comparisons, occupancy was up 4.6 percent to 62.0 percent, average daily rate rose 6.4 percent to US$108.63 and revenue per available room increased 11.3 percent to US$67.32. A Veterans Day shift, Superstorm Sandy cleanup and recovery efforts coupled with strong group performance due to meetings and conventions occurring the week before an early Thanksgiving drove weekly results nationally, as well as in several of the gateway cities," said Brad Garner, COO at STR. "Demand for hotel rooms remains particularly strong despite fiscal-cliff concerns. We firmly believe growth in roomnights sold will end the year in the 2.6 percent to 2.8 percent range, with ADR growth well over 4.0 percent."

Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, reported the largest occupancy increase, rising 20.0 percent to 83.0 percent, followed by New Orleans, Louisiana (+15.3 percent to 73.3 percent), and New York, New York (+12.0 percent to 92.8 percent), which reported the highest actual occupancy for the week. Miami-Hialeah, Florida, fell 3.5 percent in occupancy to 83.8 percent, reporting the largest decrease in that metric.

San Francisco/San Mateo, California (+16.6 percent to US$173.78), and Boston, Massachusetts (+14.5 percent to US$169.29), posted the largest ADR increases for the week.

Four markets experienced RevPAR increases of more than 20 percent: Philadelphia (+26.3 percent to US$103.67); San Francisco/San Mateo (+23.9 percent to US$149.67); Boston (+22.3 percent to US$131.16); and New Orleans (+22.0 percent to US$94.52). Orlando, Florida, reported the largest RevPAR decrease, falling 2.9 percent to US$67.42.

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 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.

Rachael Spann Urie
Director, Public Relations
+1 (615) 824-8664 ext. 3305
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