STR reports US hotel performance for week ending 5 June 2010
The U.S. hotel industry reported mixed results in the three key performance measurements during the week of 30 May-5 June 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy increased 1.0 percent to 57.1 percent. Average daily rate dropped 2.3 percent to US$93.93. Revenue per available room decreased 1.3 percent to US$53.61.
The U.S. hotel industry reported mixed results in the three key performance measurements during the week of 30 May-5 June 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy increased 1.0 percent to 57.1 percent. Average daily rate dropped 2.3 percent to US$93.93. Revenue per available room decreased 1.3 percent to US$53.61.
Among the Top 25 Markets, San Francisco/San Mateo, California, reported the largest increases in all three key metrics. The market’s occupancy rose 12.1 percent to 78.0 percent, ADR increased 14.2 percent to US$140.56, and RevPAR jumped 28.1 percent to US$109.61.
Two markets, excluding San Francisco/San Mateo reported double-digit occupancy increases: Nashville, Tennessee (11.1 percent to 57.3 percent), and Miami-Hialeah, Florida (+10.3 percent to 63.3 percent). New Orleans, Louisiana, posted the largest occupancy decrease, falling 9.7 percent to 53.3.percent, followed by Washington, D.C. (-8.9 percent to 66.3 percent), and Dallas, Texas (-8.1 percent to 50.7 percent).
New Orleans experienced the largest ADR decrease, falling 28.6 percent to US$96.37, followed by Orlando, Florida, with a 22.1-percent decrease to US$80.90.
Excluding San Francisco/San Mateo, three markets reported double-digit RevPAR increases: Miami-Hialeah (+17.6 percent to US$81.27); New York, New York (+13.5 percent to US$175.13); and Phoenix, Arizona (+11.1 percent to US$38.18). New Orleans posted the largest RevPAR decrease, dropping 35.5 percent to US$51.36, followed by Orlando (-25.5 percent to US$44.25) and Washington, D.C. (-22.4 percent to US$85.22).
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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