STR reports US performance for week ending 16 January 2010
The U.S. hotel industry reported decreases in all three key measurements during the week of 10-16 January 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy ended the week virtually flat with an 0.8-percent decrease to 47.8 percent. Average daily rate dropped 7.4 percent to finish the week at US$94.78. RevPAR for the week fell 8.2 percent to finish at US$45.33.
The U.S. hotel industry reported decreases in all three key measurements during the week of 10-16 January 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy ended the week virtually flat with an 0.8-percent decrease to 47.8 percent. Average daily rate dropped 7.4 percent to finish the week at US$94.78. RevPAR for the week fell 8.2 percent to finish at US$45.33.
Among the Chain Scale segments, three segments reported occupancy increases for the week. The Luxury segment rose 4.8 percent to 60.5 percent, the Upper Upscale segment increased 4.2 percent to 61.8 percent, and the Upscale segment was up 2.3 percent to 58.5 percent.
Among the Top 25 Markets, Boston, Massachusetts, reported the largest occupancy increase, jumping 26.3 percent to 57.9 percent. Five other markets experienced double-digit occupancy increases: New York, New York (+15.3 percent to 70.0 percent); San Francisco/San Mateo, California (+12.6 percent to 71.9 percent); Detroit, Michigan (+12.3 percent to 50.7 percent); Miami-Hialeah, Florida (+11.9 percent to 75.2 percent); and Seattle, Washington (+11.2 percent to 53.2 percent).
Norfolk-Virginia Beach, Virginia, posted the smallest ADR decrease, falling 4.6 percent to US$65.83. Washington, D.C., experienced the largest ADR decrease, down 24.2 percent to US$137.61, followed by Orlando, Florida (-17.6 percent to US$97.51), and Phoenix, Arizona (-17.4 percent to US$114.59).
New York ended the week with the largest RevPAR increase, jumping 7.1 percent to US$131.81, followed by San Francisco/San Mateo (+4.0 percent to US$108.15) and Seattle (+3.1 percent to US$55.27). Four markets reported RevPAR decreases of more than 25 percent: Washington, D.C. (-29.4 percent to US$74.01); Orlando (-29.1 percent to US$56.77); Houston, Texas (-27.3 percent to US$46.79); and Phoenix (-26.6 percent to US$66.26).
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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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