Published on : Friday, June 6, 2014
The U.S. hotel industry recorded positive results in the three key performance measurements during the week of 25-31 May 2014, according to data from STR.
In year-over-year measurements, the industry’s occupancy increased 2.9 percent to 62.0 percent. Average daily rate increased 4.7 percent to finish the week at US$109.86. Revenue per available room for the week was up 7.7 percent to finish at US$68.08.
Among the Top 25 Markets, San Diego, California, reported the largest occupancy increase, rising 10.4 percent to 73.2 percent. Boston, Massachusetts, followed with a 9.7-perent increase to 80.1 percent.
Four markets achieved double-digit ADR increases: San Diego (+12.8 percent to US$137.22); Nashville, Tennessee (+12.2 percent to US$107.11); Boston (+10.6 percent to US$186.66); and Denver, Colorado (+10.1 percent to US$102.36).
Five markets reported RevPAR growth of more than 15 percent: San Diego (+24.6 percent to US$100.43); Boston (+21.3 percent to US$149.60); Seattle, Washington (+17.5 percent to US$95.50); Denver (+16.7 percent to US$72.25); and Tampa/St. Petersburg, Florida (+16.5 percent to US$62.36).
St. Louis, Missouri-Illinois, experienced the largest decrease in all three key performance metrics. The market’s occupancy dropped 8.3 percent to 65.6 percent; its ADR was down 2.3 percent to US$96.55; and its RevPAR decreased 10.4 percent to US$63.31.
Source: STR.
Tags: america hotel news, STR, US hotel industry
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