U.S. hotel performance for the week ending 24 October 2009 | STR
The U.S. hotel industry posted declines in all three key performance measurements during the week of 18-24 October 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 6.3 percent to end the week at 59.0 percent. Average daily rate dropped 8.3 percent to finish the week at US$100.04. Revenue per available room for the week decreased 14.1 percent to finish at US$59.03.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 18-24 October 2009, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 6.3 percent to end the week at 59.0 percent. Average daily rate dropped 8.3 percent to finish the week at US$100.04. Revenue per available room for the week decreased 14.1 percent to finish at US$59.03.
Among the Top 25 Markets, Oahu Island, Hawaii, experienced the largest occupancy increase, up 10.4 percent to 83.8 percent, followed by Boston, Massachusetts, with a 7.5-percent increase to 79.8 percent. Houston, Texas, posted the largest occupancy decrease, falling 32.9 percent to 57.5 percent. Three other markets reported double-digit occupancy decreases: Tampa-St. Petersburg, Florida (-13.5 percent to 51.2 percent); Detroit, Michigan (-11.6 percent to 51.2 percent); and Dallas, Texas (-10.5 percent to 55.0 percent).
New Orleans, Louisiana, posted the only ADR increase, up 7.9 percent to US$133.96. New York, New York, experienced the largest ADR decrease, falling 18.9 percent to US$256.72, followed by Tampa-St. Petersburg (-17.9 percent to US$86.20), and Phoenix, Arizona (-17.1 percent to US$106.03).
Two markets reported RevPAR increases: New Orleans (+7.9 percent to US$90.63) and Oahu Island (+3.0 percent to US$128.72). Boston ended the week flat in RevPAR at US$123.43. Houston fell 43.4 percent to US$53.02, experiencing the largest RevPAR decrease. Two other markets posted RevPAR decreases of more than 25 percent: Tampa-St. Petersburg (-29.0 percent to US$44.16) and Detroit (-25.3 percent to US$39.12).
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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.
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