STR: US hotel results for week ending 8 July
In comparison with the week of 3-9 July 2016, the industry recorded the following:
- Occupancy: -3.0% to 65.3%
- Average daily rate (ADR): +1.1% to US$122.73
- Revenue per available room (RevPAR): -2.0% to US$80.11
Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, registered the largest year-over-year increase in RevPAR (+6.5% to US$104.82), due primarily to the week's largest increase in ADR (+5.2% to US$143.23).
New Orleans, Louisiana, saw the week's largest increase in occupancy (+5.5% to 63.5%).
Four Top 25 Markets saw a double-digit RevPAR decrease for the week: Houston, Texas(-19.5% to US$38.75); Philadelphia, Pennsylvania-New Jersey (-19.5% to US$69.79);Nashville, Tennessee (-14.1% to US$86.41); and Dallas, Texas (-13.0% to US$48.80).
Houston reported the largest decrease in ADR (-9.0% to US$81.45).
Three Top 25 Markets showed a double-digit decline in occupancy: Philadelphia (-12.1% to 61.4%), Nashville (-11.8% to 66.7%) and Houston (-11.6% to 47.6%).
Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318
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.