STR: US Hotel Results For Week Ending 2 February
During the week of 27 January to 2 February, U.S. hotel occupancy was mostly flat (+0.1% to 56.7%), but a 2.3% ADR increase to $124.95 drove RevPAR up 2.4% to $70.83.
HENDERSONVILLE, Tennessee — The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 27 January through 2 February 2019, according to data from STR.
- Occupancy: +0.1% to 56.7%
- Average daily rate (ADR): +2.3% to US$124.95
- Revenue per available room (RevPAR): +2.4% to US$70.83
STR analysts note that results were more stabilized than in recent weeks as the government shutdown ended. Additionally group (bookings of 10 or more rooms) RevPAR was up 9.6%, indicating that many events were shifted to avoid Martin Luther King Jr. Day the prior week.
Super Bowl LIII host, Atlanta, Georgia, reported the largest increases among Top 25 Markets in ADR (+72.6% to US$204.75) and RevPAR (+80.0% to US$141.64). Occupancy in the market rose 4.3% to 69.2% with more substantial growth on Friday and Saturday.
Denver, Colorado, experienced the only double-digit rise in occupancy (+17.6% to 65.9%) as well as the second-largest increases in ADR (+15.2% to US$132.79) and RevPAR (+35.4% to US$87.55).
San Diego, California, posted the only other double-digit lift in ADR (+13.5% to US$165.45) and the third-largest jump in RevPAR (+20.9% to US$123.90).
Overall, 15 of the Top 25 Markets registered an increase in RevPAR.
In comparison with its Super Bowl host week last year, Minneapolis/St. Paul, Minnesota-Wisconsin, registered the steepest declines in each of the three key performance metrics: occupancy (-31.6% to 49.6%), ADR (-56.8% to US$104.95) and RevPAR (-70.4% to US$52.07).
Chicago, Illinois, experienced the second-largest decreases in occupancy (-9.1% to 45.5%) and RevPAR (-13.9% to US$46.61).
Seattle, Washington, posted the second-largest decline in ADR (-7.1% to US$142.11) and the only other double-digit decrease in RevPAR (-13.5% to US$90.86).
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.
Phone: +1 (615) 824 8664 ext. 3305