The U.S. hotel industry reported increases in all three key performance metrics during the week of 5-11 December 2010, according to data from STR. In year-over-year comparisons, occupancy increased 8.6 percent to 52.2 percent, average daily rate was up 2.6 percent to US$98.75, and revenue per available room ended the week up 11.5 percent to US$51.56.
The recovery of the U.S. lodging industry continues to improve, buoyed by a sustained expansion in the demand for hotel rooms across the country. Accordingly, Colliers PKF Hospitality Research (PKF-HR) has edged up its forecasts for U.S. hotel performance for 2010 and re-affirmed the outlook for 2011. In the recently released December 2010 edition of Hotel Horizons®, PKF-HR forecasts that lodging demand will grow 7.8 percent in 2010. This is nearly four times greater than the 2.0 percent increase in hotel supply, resulting in a record 5.7 percent rise in occupancy.
The U.S. hotel industry reported increases in all three key performance metrics during the week of 21-27 November 2010, according to data from STR. In year-over-year comparisons, occupancy increased 7.0 percent to 43.6 percent, average daily rate was up 2.9 percent to US$87.53, and revenue per available room ended the week up 10.1 percent to US$38.16.
The U.S. hotel industry is projected to end 2010 with increases in two of the three key performance measurements, according to STR's forecast update. STR projects 2010 occupancy will increase 5.3 percent to 57.4 percent, average daily rate is expected to end the year virtually flat with a 0.1-percent decrease to US$97.92, and revenue per available room is projected to rise 5.2 percent to US$56.23.
In year-over-year measurements, the industry's occupancy was up 6.9 percent to 61.3 percent. Average daily rate ended the month with a 1.2-percent increase to US$100.89. Revenue per available room for the month rose 8.2 percent to finish at US$61.89.
In year-over-year comparisons, occupancy increased 11.1 percent to 58.4 percent, average daily rate was up 2.7 percent to US$98.77, and revenue per available room ended the week up 14.1 percent to US$57.65.
In year-over-year comparisons, occupancy increased 6.2 percent to 58.2 percent, average daily rate was up 1.9 percent to US$99.29, and revenue per available room ended the week up 8.2 percent to US$57.75.
The U.S. Hotel Industry Leading Indicator decreased 1.1% during September after a slight drop of 0.5% during August, reports economic research firm e-forecasting.com in conjunction with STR. The U.S. Hotel Industry Leading Indicator, or HIL, is a monthly leading indicator for the U.S. hotel industry that, on average, leads the industry’s business activity four to five months in advance. The latest monthly change brought the index to a reading of 113.3. The index was set to equal 100 in 2000.
The RevPAR recovery race article series continues with September and third-quarter results. Overall—and as might be anticipated by loyal readers—New Orleans continues to lead the race with only 3.3% RevPAR growth needed to match its September 2008 RevPAR peak.
The industry’s occupancy was up 6.7 percent to 63.9 percent, average daily rate rose 1.6 percent to US$99.07, and revenue per available room increased 8.4 percent to US$63.34. Year-to-date 2010, occupancy increased 5.2 percent to 58.9 percent, ADR fell 0.7 percent to US$97.89, and RevPAR was up 4.5 percent to US$57.70.
In year-over-year comparisons, occupancy increased 6.5 percent to 63.6 percent, average daily rate was up 2.2 percent to US$101.58, and revenue per available room ended the week up 8.8 percent to US$64.62.
In year-over-year comparisons, occupancy increased 7.5 percent to 64.2 percent, average daily rate was up 2.6 percent to US$103.09, and revenue per available room ended the week up 10.3 percent to US$66.15.
The U.S. hotel industry reported increases in all three key performance metrics during summer 2010, according to data from STR. Overall, summer occupancy rose 6.8 percent to 65.6 percent, average daily rate increased 1.3 percent to US$98.76 percent, and revenue per available room was up 8.2 percent to US$64.78. The summer season comprises June, July and August.
The United States Hotel Industry Leading Indicator decreased 0.3% during August, after an increase of 0.9% the previous month, according to economic research firm e-forecasting.com in conjunction with STR.
The outlook for 2010 is for strong demand growth, and the industry is expected to regain stabilized levels of operation by 2014. Hotel values are also improving, fueled by both stronger fundamentals and improving investment market conditions.
In year-over-year comparisons, occupancy increased 6.7 percent to 63.5 percent, average daily rate was up 1.8 percent to US$100.25, and revenue per available room ended the week up 8.6 percent to US$63.66. Among the Top 25 Markets, New Orleans, Louisiana, reported the largest occupancy increase, rising 34.4 percent to 53.9 percent, followed by Detroit, Michigan (+18.2 percent to 62.8 percent), and Minneapolis-St. Paul, Minnesota-Wisconsin (+16.0 percent to 78.0 percent).
The U.S. hotel industry posted increases in all three key performance measurements during August 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy was up 6.4 percent to 63.9 percent. Average daily rate ended the month with a 1.5-percent increase to US$98.69. Revenue per available room for the month rose 8.1 percent to finish at US$63.08.
In year-over-year comparisons, occupancy increased 2.7 percent to 54.2 percent, average daily rate fell 2.0 percent to US$92.84, and revenue per available room ended the week virtually flat with a 0.7-percent increase to US$50.32.
In year-over-year comparisons, occupancy increased 7.5 percent to 57.4 percent, average daily rate was up 2.1 percent to US$94.37, and revenue per available room rose 9.7 percent to US$54.16. This was the 13th consecutive week the U.S. reported overall ADR increases. Before this trend emerged, ADR in decreased 74 of the past 76 weeks.
The U.S. hotel industry reported increases in all three key performance measurements during the week of 1-7 August 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy increased 6.7 percent to 70.2 percent. Average daily rate rose 1.6 percent to US$99.13. Revenue per available room increased 8.4 percent to US$69.57.