STR: US Hotel Results For Week Ending 16 February
During the week of 10-16 February, U.S. hotel occupancy rose 0.7% to 63.5%, ADR increased 2.7% to $131.99 and RevPAR rose 3.4% to $83.88.
HENDERSONVILLE, Tennessee — The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 10-16 February 2019, according to data from STR.
In comparison with the week of 11-17 February 2018, the industry recorded the following:
• Occupancy: +0.7% to 63.5%
• Average daily rate (ADR): +2.7% to US$131.99
• Revenue per available room (RevPAR): +3.4% to US$83.88
Among the Top 25 Markets, San Francisco/San Mateo, California, registered the largest increase in RevPAR (+62.2% to US$267.60), due to the largest lift in ADR (+51.7% to US$312.71) and the second-highest rise in occupancy (+6.9% to 85.6%). STR analysts attribute continued performance growth in the market to returned group business related to the reopened Moscone Center.
Nashville, Tennessee, experienced the largest jump in occupancy (+8.0% to 74.1%).
Seattle, Washington, posted the second-highest increases in ADR (+15.1% to US$150.81) and RevPAR (+18.4% to US$104.20).
Super Bowl LIII host, Atlanta, Georgia, reported the third-largest increase in ADR (+12.2% to US$122.59), which resulted in the third-highest rise in RevPAR (+17.9% to US$87.99).
Overall, 14 of the Top 25 Markets registered an increase in RevPAR.
San Diego, California, saw the steepest declines in occupancy (-4.1% to 77.9%) and RevPAR (-7.8% to US$130.69).
Los Angeles/Long Beach, California, posted the largest drop in ADR (-5.0% to US$187.28).
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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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