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.
Among the Top 25 Markets, Atlanta, Georgia, achieved the largest occupancy increase,
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 (+15.3
percent 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 (+28.3
percent 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.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.