Published on : Saturday, April 5, 2014
The U.S. hotel industry posted positive results in the three key performance measurements during the week of 23-29 March 2014, according to data from STR.
In year-over-year measurements, the industry’s occupancy increased 8.0 percent to 66.8 percent.
Average daily rate rose 5.0 percent to finish the week at US$115.25. Revenue per available room for the week was up 13.4 percent to finish at US$77.03.
Among the Top 25 Markets, Denver, Colorado, reported the largest occupancy increase, rising 31.7 percent to 71.0 percent. St. Louis, Missouri-Illinois, followed with a 29.4-percent increase to 71.1 percent.
Orlando, Florida, fell 5.9 percent in occupancy to 86.4 percent, reporting the largest decrease in that metric.
Four markets achieved ADR increases of more than 20 percent: New Orleans, Louisiana (+27.2 percent to US$152.14); Nashville, Tennessee (+24.9 percent to US$119.44); Denver (+24.4 percent to US$107.62); and San Diego, California (+20.7 percent to US$141.45). New York, New York (-7.5 percent to US$230.76), and Norfolk/Virginia Beach, Virginia (-6.1 percent to US$74.95), reported the largest ADR decreases for the week.
Five markets experienced RevPAR increases of more than 40 percent: Denver (+63.8 percent to US$76.39); Dallas, Texas (+50.5 percent to US$72.08); St. Louis (+48.4 percent to US$67.71); New Orleans (+46.7 percent to US$128.61); and Nashville (+41.7 percent to US$97.30). New York fell 10.4 percent in RevPAR to US$195.15, posting the largest decrease in that metric.
Source: STR.
Tags: Hotel News, latest hotel news, STR, u.s. hotel news
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