STR releases preliminary year-end 2012 data for US Hotels
STR's preliminary year-end data indicates that the U.S. hotel industry will finish 2012 by posting strong performances in all major metrics. Based on STR data through November, preliminary 2012 year-end results for the U.S. hotel industry include:
- Increases in supply (0.5 percent) and demand (2.8 percent);
- a 2.3-percent increase in occupancy to 61.3 percent;
- a 4.3-percent rise in average daily rate to US$106.17; and
- a 6.6-percent jump in revenue per available room to $65.08.
"The data indicates 2012 will finish as a solid year for the U.S. hotel industry," said Amanda Hite, STR's president. "The industry has experienced back-to-back years of record demand, which, coupled with limited supply growth, has fueled the increases in the other measurement categories. It's been near ideal conditions for the industry to finally put the recession in the rearview mirror."
STR's COO Brad Garner said the preliminary year-end results aren't a big surprise for most industry observers.
"The numbers are in line with the forecasts we've been issuing for most of the year, which shows the stability the industry has established," he said. "Industry operators have benefitted from another year of increased demand, and in many cases, have been able to adjust their pricing models accordingly. It hasn't been an easy climb back from the depths of 2009 and 2010, but it appears that U.S. hoteliers are in the midst of experiencing a nice run. Of course, performance varies market to market, but overall it looks as though 2012 will finish as a good one for U.S. hoteliers."
STR's latest forecast was issued at its Hotel Data Conference in September and included a 0.5-percent increase in supply, a 2.6-percent increase in demand, a 2.1-percent increase in occupancy, a 4.4-percent increase in ADR and a 6.5-percent increase in RevPAR.
STR will release final year-end 2012 results, revised 2013 forecasts and the company's initial 2014 forecasts in mid-January.
Rachael Spann Urie
Director, Public Relations
Phone: +1 (615) 824-8664 ext. 3305
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.