Negative Performance Metrics for US Hotel Industry for Week Ending February 11th – 2017
The U.S. hotel industry reported performance declines during the week of 5-11 February, according to STR. Occupancy fell 4.4% to 59.6%, ADR decreased 1.6% to $121.43 and RevPAR dropped 5.9% to $72.41.
The U.S. hotel industry reported negative results in the three key performance metrics during the week of 5-11 February 2017, according to data from STR.
In a year-over-year comparison with the week of 7-13 February 2016:
- Occupancy: -4.4% to 59.6%
- Average daily rate (ADR): -1.6% to US$121.43
- Revenue per available room (RevPAR): -5.9% to US$72.41
Among the Top 25 Markets, Seattle, Washington, recorded the week’s only double-digit increase in occupancy (+11.3% to 78.0%) and the largest lift in RevPAR (+23.5% to US$112.37). ADR in the market rose 11.0% to US$144.03.
Super Bowl LI host, Houston, Texas, posted the largest rise in ADR (+24.8% to US$142.91), driving the second largest increase in RevPAR (+21.8% to US$95.25). Occupancy in the market dipped 2.4% to 66.6%.
Of the 20 markets to report a RevPAR decrease for the week, four saw a double-digit decline in the metric: Miami/Hialeah, Florida (-24.9% to US$180.01); New Orleans, Louisiana (-22.5% to US$106.45); San Francisco/San Mateo, California (-14.5% to US$179.21); and San Diego, California (-12.1% to US$108.53).
Three markets reported a double-digit ADR decrease: New Orleans (-20.5% to US$150.85), Miami/Hialeah (-19.6% to US$220.69) and San Francisco/San Mateo (-11.6% to US$218.63).
The steepest occupancy declines were reported in Nashville, Tennessee (-8.9% to 63.5%); St. Louis, Missouri-Illinois (-8.8% to 56.0%); and Philadelphia, Pennsylvania-New Jersey (-8.3% to 56.8%).
In total, 22 of the Top 25 Markets saw occupancy fall during the week.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.