Positive Performance Metrics for US Hotel Industry for Week Ending March 11th – 2017
The U.S. hotel industry reported occupancy increased 0.8% to 67.4% during the week of 5-11 March. ADR increased 3.9% to $128.61 and RevPAR rose 4.8% to $86.72.
The U.S. hotel industry reported positive results in the three key performance metrics during the week of 5-11 March 2017, according to data from STR.
In a year-over-year comparison with the week of 6-12 March 2016:
- Occupancy: +0.8% to 67.4%
- Average daily rate (ADR): +3.9% to US$128.61
- Revenue per available room (RevPAR): +4.8% to US$86.72
Among the Top 25 Markets, Detroit, Michigan, posted the only double-digit rise in occupancy (+20.8% to 76.1%) as well as the largest increases in RevPAR (+29.6% to US$77.05). ADR in the market was up 7.2% to US$101.30.
Denver, Colorado, matched for the week’s top ADR percentage increase (+7.2% to US$123.16) and recorded the second-largest spike in RevPAR (+16.1% to US$93.29).
Two additional markets experienced a double-digit climb in RevPAR for the week: Minneapolis/St. Paul, Minnesota-Wisconsin (+12.8% to US$76.29), and San Francisco/San Mateo, California (+12.3% to US$183.05).
Houston, Texas, saw the only double-digit declines in occupancy (-10.2% to 66.6%) and RevPAR (-14.8% to US$73.09). ADR in the market was down 5.1% to US$109.70.
Chicago, Illinois, was the only other Top 25 Market to show a double-digit decrease in RevPAR (-12.6% to US$74.40).
Miami/Hialeah, Florida, reported the week’s largest year-over-year drop in ADR (-5.7% to US$223.99) despite having the highest absolute value in the metric.
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.