STR reports US hotel performance for week ending 31 July
In year-over-year measurements, the industry’s occupancy increased 6.8 percent to 71.0 percent. Average daily rate rose 1.5 percent to US$99.27. Revenue per available room increased 8.5 percent to US$70.45.
The U.S. hotel industry reported increases in all three key performance measurements during the week of 25-31 July 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy increased 6.8 percent to 71.0 percent. Average daily rate rose 1.5 percent to US$99.27. Revenue per available room increased 8.5 percent to US$70.45.
Among the Top 25 Markets, 22 markets reported occupancy increases for the week. New Orleans, Louisiana, achieved the largest increase, rising 27.4 percent to 68.3 percent, followed by Detroit, Michigan, with a 15.6 percent increase to 62.1 percent. Three markets posted occupancy decreases: St. Louis, Missouri-Illinois (-4.4 percent to 71.8 percent); Seattle, Washington (-3.1 percent to 86.9 percent); and Phoenix, Arizona (-2.9 percent to 47.2 percent).
New York, New York, achieved the largest ADR increase, rising 13.5 percent to US$209.94. Nashville, Tennessee, fell 5.6 percent in ADR to US$84.10, reporting the largest decrease in that metric, followed by Detroit (-5.0 percent to US$73.74), and Dallas, Texas (-4.6 percent to US$80.95).
New Orleans, Louisiana, soared 39.8 percent in RevPAR to US$65.65, reporting the largest increase in that metric. Four other markets experienced RevPAR increases of more than 20 percent: Anaheim-Santa Ana, California (+24.8 percent to US$113.28); Oahu Island, Hawaii (+24.3 percent to US$149.58); Denver, Colorado (+22.2 percent to US$79.97); and Los Angeles-Long Beach, California (+20.6 percent to US$107.18). St. Louis reported the largest RevPAR decrease, falling 5.8 percent to US$60.48.3
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.
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