The U.S. hotel industry reported mixed results in the three key measurements during the week of 24-30 January 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy ended the week up 1.9 to 48.8 percent. Average daily rate dropped 5.6 percent to finish the week at US$94.92. Revenue per available room for the week fell 3.8 percent to finish at US$46.31.
The U.S. hotel industry reported decreases in all three key performance metrics for fourth-quarter 2009 in year-over-year measurements, according to data from STR. The industry’s occupancy dropped 4.4 percent to 50.6 percent, average daily rate fell 7.6 percent to US$95.79, and revenue per available room decreased 11.7 percent to US$48.50.
As the Americas Lodging Investment Summit got under way Monday, season six American Idol finalist Stephanie Edwards took the ALIS stage and sang of not wanting to hear any more bad news about the hotel industry. Smith Travel Research president Mark Lomanno was on stage behind Edwards and served as one of the background singers for the tune. But minutes after the song-and-dance ended, Lomanno acknowledged during the opening general session that the song’s plea might go unanswered—for now, at least.
The U.S. hotel industry is projected to end 2010 with decreases in two of the three key performance measurements, according to STR’s monthly forecast update. STR projects 2010 occupancy to be flat at 55.1 percent, ADR to decrease 3.2 percent to US$94.39, and revenue per available room to drop 3.2 percent to US$51.99.
The U.S. hotel industry posted a double-digit drop in revenue per available room during 2009. The metric fell 16.7 percent to US$53.71, the largest year-end decrease of any of the three key measurements, according to data from STR. The industry’s occupancy fell 8.7 percent to 55.1 percent for the year and average daily rate dropped 8.8 percent to US$97.51.
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.
Economic research firm e-forecasting.com in conjunction with STR announced that the Hotel Industry’s Pulse index gained ground in December. After edging down 0.3 percent in November, HIP increased 1.7 percent in December. HIP is a composite indicator that gauges business activity in the U.S. hotel industry in real-time, similar to a GDP measure for the industry. The latest monthly change brought the index to a reading of 82.5. The index is set to equal 100 in 2000.
The U.S. hotel industry reported increases in occupancy and revenue per available room in year-over-year measurements for the week ending 2 January 2010, according to data from Smith Travel Research. This is the first week in which two of the three key performance metrics were positive since the week ending 20 December 2008.
The U.S. hotel industry posted declines in all three key performance measurements during the week 20-26 December 2009, according to data from STR. In year-over-year measurements, the industry's occupancy fell 5.4 percent to end the week at 33.8 percent. Average daily rate dropped 8.0 percent to finish the week at US$85.78. Revenue per available room for the week decreased 13.0 percent to finish at US$29.02.
The U.S. hotel industry posted declines in all three key performance measurements during November, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 4.3 percent to end the month at 49.5 percent. Average daily rate dropped 8.3 percent to finish the month at US$93.60. Revenue per available room for the month decreased 12.3 percent to finish at US$46.33.
The U.S. hotel industry posted declines in all three key performance measurements during the week 6-12 December 2009, according to data from STR. In year-over-year measurements, the industry's occupancy fell 2.9 percent to end the week at 48.1 percent. Average daily rate dropped 5.9 percent to finish the week at US$96.04. Revenue per available room for the week decreased 8.6 percent to finish at US$46.22.
PKF Hospitality Research (PKF-HR) today announced that, according to its December 2009 edition of Hotel Horizons, the pace of recovery of the U.S. lodging industry has accelerated from previous expectations. Improving industry data for such key indicators as occupancy, RevPAR, and demand suggest that the recovery will arrive a full quarter earlier than the firm expected in September 2009. These improvements are reflected in the firm’s updated forecasts for 2009 and 2010 in its just published December issue of Hotel Horizons.
The Canadian hotel industry posted declines in all three key performance measurements during the week of 29 November-5 December, according to data from STR. In year-over-year measurements, the industry’s occupancy decreased 5.4 percent to end the week at 55.8 percent. Average daily rate dropped 3.5 percent to finish the week at CAD$119.41. Revenue per available room for the week decreased 8.7 percent to finish at CAD$66.61.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 22-28 November 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 1.7 percent to end the week at 40.7 percent. Average daily rate dropped 6.7 percent to finish the week at US$84.81. Revenue per available room for the week decreased 8.4 percent to finish at US$34.54.
The Canadian hotel industry posted declines in all three key performance measurements during the week of 22-28 November, according to data from STR. In year-over-year measurements, the industry’s occupancy decreased 6.4 percent to end the week at 55.8 percent. Average daily rate dropped 3.0 percent to finish the week at CAD$119.50. Revenue per available room for the week decreased 9.2 percent to finish at CAD$66.66.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 15-21 November 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 2.8 percent to end the week at 52.7 percent. Average daily rate dropped 7.6 percent to finish the week at US$95.85. Revenue per available room for the week decreased 10.1 percent to finish at US$50.55.
The U.S. hotel industry posted declines in all three key performance measurements during October, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 6.2 percent to end the month at 58.1 percent. Average daily rate dropped 8.2 percent to finish the month at US$99.08. Revenue per available room for the month decreased 13.8 percent to finish at US$57.57.
As part of its monthly forecast program, STR is projecting the U.S. hotel industry will report increases in all three key metrics in 2011. STR’s forecast projects 2011 occupancy to be up 2.4 percent to 56.2 percent, average daily rate to increase 3.0 percent to US$96.81, and revenue per available room to jump 5.5 percent to US$54.41.
The U.S. hotel industry posted declines in all three key performance measurements during the week of 8-14 November 2009, according to data from STR. In year-over-year measurements, the industry’s occupancy fell 6.4 percent to end the week at 52.6 percent. Average daily rate dropped 9.9 percent to finish the week at US$95.86. Revenue per available room for the week decreased 15.7 percent to finish at US$50.47.
Smith Travel Research classifies nearly 2,200 U.S. hotels representing about 301,000 rooms as “airport” locations. These hotels usually are within three miles of an airport and primarily serve demand generated by airport traffic. Based on the 12 months ending September 2009, airport hotels generated more than US$6 billion in room revenue, about 6 percent of the U.S. total. More than 40 percent of airport hotel rooms are classified as upper-upscale or upscale, with another 18 percent falling into the midscale-without-food-and-beverage segment.