STR: U.S. hotel results for week ending 7 April
In comparison with the week of 2-8 April 2017, the industry recorded the following:
- Occupancy: -2.7 to 68.3%
- Average daily rate (ADR): +0.7% to US$128.84
- Revenue per available room (RevPAR): -2.0% to US$88.03
Among the Top 25 Markets, Miami/Hialeah, Florida, reported the highest jump in RevPAR (+34.0% to US$222.00), due primarily to the only double-digit lift in ADR (+23.4% to US$254.81).
Norfolk/Virginia Beach, Virginia, experienced the only double-digit increase in occupancy (+11.7% to 70.4%) and the second-largest increase in RevPAR (+19.3% to US$69.40).
STR analysts note that performance in many major markets was affected by a drop in group business due to the Easter holiday calendar shift. Overall, eight of the Top 25 Markets reported a double-digit decrease in RevPAR.
Chicago, Illinois, reported the steepest decline in RevPAR (-29.9 to US$79.30), due primarily to the largest drop in ADR (-17.0% to US$125.20).
Detroit, Michigan, experienced the largest decrease in occupancy (-19.5% to 58.2%), resulting in the second-largest decline in RevPAR (-28.6% to US$54.08).
Washington, D.C.-Maryland-Virginia, saw the second-largest decrease in ADR (-12.6% to US$161.86).
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 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.