Source: STR

HENDERSONVILLE, Tennessee – The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 7-13 January 2018, according to data from STR.

In comparison with the week of 8-14 January 2017, the industry recorded the following:

  • Occupancy: +0.2% to 56.7%
  • Average daily rate (ADR): +5.4% to US$129.08
  • Revenue per available room (RevPAR): +5.5% to US$73.16

Among the Top 25 Markets, Houston, Texas, reported the largest increase in RevPAR (+24.5% to US$71.78), due primarily to the only double-digit increase in occupancy (+17.9% to 66.5%).

Miami/Hialeah, Florida, posted the only double-digit lift in ADR (+11.0% to US$233.92), which resulted in the second-highest jump in RevPAR (+17.5% to US$186.55).

Philadelphia, Pennsylvania-New Jersey, experienced the second-highest rise in occupancy (+8.2% to 59.5%). RevPAR in the market grew 12.0% to US$70.09.

Detroit, Michigan, reported the steepest decline in RevPAR (-29.6% to US$62.73), primarily because of the largest decrease in ADR (-20.1% to US$107.20).

Tampa/St. Petersburg, Florida, experienced the largest drop in occupancy (-12.5% to 69.3%), along with the second-largest decreases in ADR (-15.7% to US$129.36) and RevPAR (-26.2% to US$89.67).

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
Public Relations Coordinator
+1 (615) 824 8664 ext. 3305
STR