STR: US Hotel Results For Week Ending 20 April
For the week of 14-20 April, the U.S. hotel industry saw occupancy decrease 6.2% to 65.7%, ADR decreased 1.9% to $128.79 and RevPAR decreased 8% to $84.63.
HENDERSONVILLE, Tennessee — The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 14-20 April 2019, according to data from STR.
- Occupancy: -6.2% to 65.7%
- Average daily rate (ADR): -1.9% to US$128.79
- Revenue per available room (RevPAR): -8.0% to US$84.63
STR analysts attribute steep performance declines in many major markets to Easter weekend and significantly less group business in comparison with a non-holiday time period in 2018.
Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, registered the largest jump in RevPAR (+24.9% to US$78.39), due to the highest rise in occupancy (+9.9% to 73.9%) and the second-largest increase in ADR (+13.6% to US$106.02).
Miami/Hialeah, Florida, posted the largest lift in ADR (+14.0% to US$237.45) and the only other double-digit increase in RevPAR (+12.3% to US$196.95).
San Francisco/San Mateo, California, saw the steepest drop in RevPAR (-30.6% to US$181.77), due to the largest decline in ADR (-27.1% to US$217.72).
Detroit, Michigan, experienced the largest decrease in occupancy (-21.7% to 59.1%).
Washington, D.C.-Maryland-Virginia, reported the second-steepest declines in ADR (-19.4% to US$155.29) and RevPAR (-30.1% to US$115.02).
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