STR: U.S. hotel results for week ending 2 December
HENDERSONVILLE, Tennessee – The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 26 November through 2 December 2017, according to data from STR.
In comparison with the week of 27 November through 3 December 2016, the industry recorded the following:
- Occupancy: +1.3% to 56.6%
- Average daily rate (ADR): +0.2% to US$117.82
- Revenue per available room (RevPAR): +1.5% to US$66.71
Among the Top 25 Markets, Houston, Texas, reported the largest increase in RevPAR (+33.1% to US$74.18), due primarily to the highest rise in occupancy (+25.5% to 68.6%). Performance in the market continues to be boosted by post-Hurricane Harvey demand.
Tampa/St. Petersburg, Florida, posted the highest lift in ADR (+7.9% to US$113.10).
Orlando, Florida, experienced the second-highest increases in occupancy (+9.6% to 72.2%) and RevPAR (+15.7% to US$83.65).
Overall, five of the Top 25 Markets reported double-digit growth in RevPAR.
Mostly due to a calendar shift around Art Basel, Miami/Hialeah, Florida, reported the steepest declines in ADR (-31.4% to US$175.86) and RevPAR (-34.6% to US$132.52).
San Diego, California, saw the second-largest decrease in RevPAR (-20.9% to US$80.13), due primarily to the second-largest decrease in ADR (-17.6% to US$129.95).
Minneapolis/St. Paul, Minnesota-Wisconsin, experienced the largest decrease in occupancy (-8.7% to 56.7%).
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.
Nick Minerd
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