STR: US Hotel Results For Week Ending 6 April
The U.S. hotel industry reported RevPAR rose 1.9% to $89.90 during the week of 31 March to 6 April, according to STR.
HENDERSONVILLE, Tennessee — The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 31 March through 6 April 2019, according to data from STR.
In comparison with the week of 1-7 April 2018, the industry recorded the following:
• Occupancy: +0.4% to 68.7%
• Average daily rate (ADR): +1.5% to US$130.79
• Revenue per available room (RevPAR): +1.9% to US$89.90
STR analysts note that performance growth was lifted due to comparison with Easter Sunday and the days immediately following in 2018.
Among the Top 25 Markets, Minneapolis/St. Paul, Minnesota-Wisconsin, posted the largest jump in RevPAR (+55.1% to US$106.96), driven by the highest lift in ADR (+41.6% to US$158.33). The market saw the second-largest increase in occupancy (+9.5% to 67.6%).
Chicago, Illinois, experienced the only double-digit rise in occupancy (+11.0% to 70.4%) and the second-largest jump in RevPAR (+22.8% to US$97.58).
Atlanta, Georgia, posted the second-highest lift in ADR (+15.9% to US$121.00).
Miami/Hialeah, Florida, registered the steepest decline in RevPAR (-18.0% to US182.37), due primarily to the only double-digit drop in ADR (-12.2% to US$224.37).
Norfolk/Virginia Beach, Virginia, experienced the largest decrease in occupancy (-9.7% to 64.8%).
Download STR's U.S. hotel review here.
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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