Positive YOY Results for US Hotel Industry for Week Ending November 11th – 2017
The U.S. hotel industry reported occupancy rose 4.9% to 68.5% during the week of 5-11 November 2017. ADR increased 4.8% to $128.92, which pushed RevPAR up 10% to $88.26.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 5-11 November 2017, according to data from STR.
In comparison with the week of 6-12 November 2016, the industry recorded the following:
- Occupancy: +4.9% to 68.5%
- Average daily rate (ADR): +4.8% to US$128.92
- Revenue per available room (RevPAR): +10.0% to US$88.26
According to STR analysts, performance growth for the week was lifted due to a comparison with the week that included Election Day in 2016.
Among the Top 25 Markets, San Francisco/San Mateo, California, reported the largest increase in RevPAR (+60.2% to US$297.04), due primarily to the largest lift in ADR (+54.7% to US$331.87).
Houston, Texas, experienced the largest increase in occupancy (+31.9% to 82.9%) and the second-highest increase in RevPAR (+45.1% to US$95.00).
Four additional markets saw RevPAR growth of more than 20.0%: Miami/Hialeah, Florida (+24.9% to US$161.21); Denver, Colorado (+23.6% to US$99.94); Orlando, Florida (+23.4% to US$103.27); and New Orleans, Louisiana (+21.9% to US$137.36).
Overall, seven of the Top 25 Markets experienced double-digit growth in occupancy, while 15 of the Top 25 Markets reported a double-digit increase in RevPAR.
Seattle, Washington, experienced the only declines in occupancy (-5.4% to 78.6%) and RevPAR (-5.7% to US$116.64).
Two Top 25 Markets reported decreases in ADR: Chicago, Illinois (-1.7% to US$165.37), and Seattle (-0.2% to US$148.47).
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.