Published on : Friday, January 24, 2014
“Despite dropping one Saturday against 2012, 2013 results were buoyed by the favorable Hanukkah comps (December 2012 and November 2013). Also, since Christmas and New Year’s Eve fell on Wednesday and Tuesday, respectively, versus earlier in 2012 (Tuesday and Monday), vacationers may have taken an extra day,” said Jan Freitag, senior VP of strategic development at STR.
Compared to December 2012, the Americas region reported a 2.8-percent increase in occupancy to 50.5 percent, a 3.6-percent increase in average daily rate to US$112.38 and a 6.5-percent increase in revenue per available room to US$56.80.
Among the key markets in the region, Toronto, Canada (+15.2 percent to 58.3 percent), and Chicago, Illinois (+10.7 percent to 53.7 percent), reported the only double-digit occupancy increases for the month. Sao Paulo, Brazil, posted the largest occupancy decrease, falling 4.0 percent to 48.8 percent. Rio de Janeiro, Brazil, followed with a 3.4-percent decrease to 68.5 percent.
Chicago (+11.5 percent to US$116.37) led ADR growth with the only double-digit increase in that metric. Panama City, Panama, fell 8.9 percent in ADR to US$102.03, reporting the largest decrease in that metric.
Chicago (+23.5 percent to US$62.48) and San Francisco, California (+13.7 percent to US$115.86), led RevPAR growth in the region. Panama City (-11.7 percent to US$49.94) posted the largest RevPAR decrease.
Among the Top 25 Markets, Tampa-St Petersburg, Florida, experienced the largest occupancy increase for the month, rising 11.9 percent to 59.0 percent. Two markets followed: Chicago, Illinois (+10.7 percent to 53.7 percent), and Denver, Colorado (+10.4 percent to 55.1 percent). Oahu Island, Hawaii, saw the largest occupancy decrease, falling 4.2 percent to 79.3 percent.
Three markets achieved double-digit ADR increases: New Orleans, Louisiana (+20.5 percent to US$142.96); Chicago (+11.5 percent to US$116.37); and Oahu Island (+11.4 percent to US$229.34). Atlanta, Georgia, reported the largest ADR decline, with a 5.5-percent drop to US$80.57.
New Orleans ended the month with the largest RevPAR increase, rising 30.6 percent to US$82.90. Chicago followed with a 23.5-percent increase to US$62.48. Norfolk-Virginia, Virginia, reported the largest RevPAR decrease, dropping 3.3 percent to US$25.93, followed by Atlanta (-2.8 percent to US$42.24).
Source: STR and STR Global.