STR reports U.S. hotel performance for the week ending 16 August 2008
The U.S. hotel industry posted declines in the key performance measurements of occupancy and revenue per available room during the week of 10 -16 August 2008, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 4.5 percent to end the week at 68.7 percent. Average daily rate increased 3.0 percent to finish the week at $107.18. RevPAR for the week decreased 1.7 percent to finish at $73.65.
HENDERSONVILLE, Tenn. | The U.S. hotel industry posted declines in the key performance measurements of occupancy and revenue per available room during the week of 10 -16 August 2008, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 4.5 percent to end the week at 68.7 percent. Average daily rate increased 3.0 percent to finish the week at $107.18. RevPAR for the week decreased 1.7 percent to finish at $73.65.
“The U.S. lodging industry experienced another soft week, as occupancy declined 4.5 percent.” commented Bobby Bowers, senior VP of operations at STR. “Through the first half of August, preliminary numbers indicate that demand (room nights sold) is down, room revenue growth is slowing and supply growth continues.”
Year-over year occupancy change by day ranged from down 4.8 percent to down 4.1 percent. ADR growth ranged from 2.4 percent to 3.6 percent.