Published on : Friday, September 19, 2014
In year-over-year measurements, the industry’s occupancy rate rose 4.5 percent to 68.0 percent. Average daily rate increased 6.9 percent to finish the week at US$117.73. Revenue per available room for the week was up 11.8 percent to finish at US$80.04.
Of the Top 25 Markets, 17 reported double-digit RevPAR increases. Seven markets reported RevPAR growth of more than 20.0 percent: Chicago, Illinois (+36.2 percent to US$154.88); Seattle, Washington (+31.2 percent to US$143.22); Detroit, Michigan (+29.2 percent to US$74.53); Denver, Colorado (+28.1 percent to US$115.14); Washington, D.C. (+26.7 percent to US$127.73); Atlanta, Georgia (+23.1 percent to US$64.58); and New Orleans, Louisiana (+22.1 percent to US$75.73). St. Louis, Missouri-Illinois, reported the only RevPAR decrease, falling 2.3 percent to US$68.35.
Detroit rose 16.4 percent to 78.2 percent in occupancy, reporting the largest increase in that metric, followed by Washington, D.C. (+14.0 percent to 77.0 percent), and Atlanta (+12.4 percent to 67.5 percent). St. Louis fell 4.6 percent to 68.3 percent in occupancy, posting the largest decrease in that metric.
Chicago (+21.3 percent to US$175.37) and Seattle (+19.1 percent to US$157.21) achieved the largest ADR growth for the week. None of the top markets posted a decrease in ADR.