STR Reports US Hotel Occupancy Up for Week Ending March 8, 2014
Smith Travel Research The U.S. hotel industry posted positive results in the three key performance measurements during the week of 2-8 March 2014, according to data from STR. In year-over-year measurements, the industry's occupancy increased 2.1 percent to 64.0 percent. Average daily rate rose 4.8 percent to finish the week at US$114.85. Revenue per available room for the week was up 7.1 percent to finish at US$73.52.
rising 15.8 percent to 72.9 percent, followed by Denver, Colorado (+13.0 percent to 78.3 percent), and Dallas, Texas (+12.8 percent to 73.5 percent). New Orleans, Louisiana, fell 10.4 percent in occupancy to 79.0 percent, reporting the largest decrease in that metric.
Three markets achieved double-digit ADR increases: Nashville, Tennessee (+15.3percent to US$118.84); Atlanta (+10.8 percent to US$95.06); and Denver (+10.6 percent to US$110.79). Washington, D.C., fell 4.1 percent in ADR to US$152.41, posting the largest decrease in that metric.
Four markets experienced RevPAR increases of more than 15 percent: Atlanta (+28.3percent to US$69.29); Nashville (+25.5 percent to US$93.64); Denver (+25.0 percent to US$86.77); and Dallas (+18.2 percent to US$70.87). Washington, D.C., fell 8.1 percent in RevPAR to US$97.72, reporting the largest decrease in that metric.
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.