STR: U.S. hotel results for week ending 25 August
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 19-25 August 2018, according to data from STR.
In comparison with the week of 20-26 August 2017, the industry recorded the following:
- Occupancy: flat at 69.5%
- Average daily rate (ADR): +1.8% to US$127.55
- Revenue per available room (RevPAR): +1.8% to US$88.69
Among the Top 25 Markets, Atlanta, Georgia, posted the largest increase in RevPAR (+19.8% to US$79.61), due primarily to the only double-digit lift in ADR (+11.4% to US$110.34).
Phoenix, Arizona, experienced the largest rise in occupancy (+8.3% to 60.7%).
Chicago, Illinois, registered the second-highest increases in ADR (+8.9% to US$147.40) and RevPAR (+15.4% to US$112.92).
Overall, 22 of the Top 25 Markets registered growth in RevPAR.
STR analysts note that percentage changes in several markets were negatively affected by a comparison with the week of the Great American Eclipse in 2017.
St. Louis, Missouri-Illinois, reported the only double-digit decreases in occupancy (-15.7% to 68.0%) and RevPAR (-22.0% to US$74.61), as well as the largest drop in ADR (-7.5% to US$109.65).
Nashville, Tennessee, posted the only other decline in ADR (-2.7% to US$149.88) and the second-largest decrease in RevPAR (-5.8% to US$118.93).
Dallas, Texas,experienced the second-largest drop in occupancy (-6.8% to 63.2%) and the only other decline in RevPAR (-2.8% to US$64.45).
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.