STR: U.S. hotel results for week ending 16 September
HENDERSONVILLE, Tennessee -- The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 10-16 September 2017, according to data from STR.
In comparison with the week of 11-17 September 2016, the industry recorded the following:
- Occupancy: +0.5% to 72.2%
- Average daily rate (ADR): +1.4% to US$131.50
- Revenue per available room (RevPAR): +1.8% to US$94.97
Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year increases in occupancy (+43.3% to 87.8%) and RevPAR (+58.6% to US$103.24). Amid recovery from Hurricane Harvey, Houston also posted an ADR increase of 10.7% to US$117.63.
Tampa/St. Petersburg, Florida, posted the second-highest lift in occupancy (+13.8% to 70.3%), that coupled with the highest increase in ADR (+14.1% to US$119.06), led the second-largest jump in RevPAR (+29.9% to US$83.75).
Two additional Top 25 Markets reported a double-digit rise in RevPAR for the week:Nashville, Tennessee (+22.6% to US$138.98), and Orlando, Florida (+19.0% to US$86.59).
Miami/Hialeah, Florida, affected greatly by Hurricane Irma, saw the week's only double-digit decreases in occupancy (-21.6% to 54.5%) and RevPAR (-18.8% to US$79.30).
Oahu Island, Hawaii, reported the largest decrease in ADR (-7.5% to US$218.11).
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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.