STR reports US performance for week ending 19 September
The U.S. hotel industry posted declines in all three key performance measurements during the week of 13-19 September 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 8.6 percent to end the week at 59.6 percent. Average daily rate dropped 10.5 percent to finish the week at US$98.34. Revenue per available room for the week decreased 18.3 percent to finish at US$58.57.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 13-19 September 2009, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 8.6 percent to end the week at 59.6 percent. Average daily rate dropped 10.5 percent to finish the week at US$98.34. Revenue per available room for the week decreased 18.3 percent to finish at US$58.57.
Among the Top 25 Markets, Oahu Island, Hawaii, reported the largest occupancy increase, up 6.4 percent to 79.6 percent. Seattle, Washington, also reported an occupancy increase of 0.8 percent to 80.2 percent. New Orleans, Louisiana, experienced the largest occupancy drop, falling 35.8 percent to 40.0 percent, followed by Dallas, Texas, with a 29.1-percent decrease to 53.9 percent.
Norfolk-Virginia Beach, Virginia, posted the smallest ADR decline, dropping 4.5 percent to US$84.58. Four other markets reported ADR decreases of less than 10 percent: Orlando, Florida (-8.9 percent to US$83.66); Nashville, Tennessee (-8.0 percent to US$92.77); Washington, D.C. (-6.7 percent to US$156.43); and St. Louis, Missouri-Illinois (-6.4 percent to US$88.56). New York, New York, was the only market to experience an ADR decrease of more than 20 percent, falling 25.5 percent to US$257.96.
Oahu Island reported the smallest RevPAR decrease, down 5.2 percent to US$116.98. Five markets experienced RevPAR decreases of more than 30 percent: New Orleans (-48.2 percent to US$34.47); Phoenix, Arizona (-37.4 percent to US$45.51); Dallas (-36.9 percent to US$47.95); Houston, Texas (-34.8 percent to US$47.94); and Atlanta, Georgia (-33.9 percent to US$42.62).
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.
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