STR: U.S. Hotel Results For Week Ending 16 March
The U.S. hotel industry reported occupancy dropped 0.9% to 70.2% during the week of 10-16 March. ADR rose 0.6% to $134.50, but RevPAR decreased 0.3% to $94.40
HENDERSONVILLE, Tennessee — The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 10-16 March 2019, according to data from STR.
In comparison with the week of 11-17 March 2018, the industry recorded the following:
- Occupancy: -0.9% to 70.2%
- Average daily rate (ADR): +0.6% to US$134.50
- Revenue per available room (RevPAR): -0.3% to US$94.40
Among the Top 25 Markets, Denver, Colorado, registered the largest increase in RevPAR (+9.1% to US$104.57).
New Orleans, Louisiana, posted the highest increase in ADR (+9.5% to US$178.41).
Los Angeles/Long Beach, California, experienced the largest rise in occupancy (+3.3% to 85.1%).
Boston, Massachusetts, saw the steepest decline in RevPAR (-12.6% to US$118.41), due mostly to the second-largest drop in occupancy (-9.0% to 68.0%).
Chicago, Illinois, reported the largest decrease in ADR (-5.4% to US$124.85), which resulted in the second-steepest decline in RevPAR (-10.8% to US$84.11).
Philadelphia, Pennsylvania, registered the largest drop in occupancy (-9.4% to 65.5%).
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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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