U.S. hotel industry doing just fine
In comparison with the week of 23-29 October 2016, the industry recorded occupancy: +4.0% to 69.8%, average daily rate (ADR): +2.6% to $129.44, and revenue per available room (RevPAR): +6.7% to $90.32.
Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year increases in occupancy (+34.9% to 85.9%), ADR (+14.0% to $120.89) and RevPAR (+53.8% to $103.82).
Post-Hurricane Harvey demand continues to drive performance levels in the market.
Tampa/St. Petersburg, Florida, experienced the second-highest increase in occupancy (+13.4% to 77.7%) and the second-largest rise in RevPAR (+23.9% to $94.42).
Overall, nine of the Top 25 Markets reported double-digit RevPAR growth.
Detroit, Michigan, posted the only other double-digit increase in ADR (+12.2% to $112.31).
New Orleans, Louisiana, reported the steepest decline in RevPAR (-20.1% to $122.73), due primarily to the week’s only double-digit drop in occupancy (-13.0% to 73.5%).
Two markets reported decreases in ADR: Chicago, Illinois (-8.9% to $155.91), and New Orleans (-8.1% to $166.91). ■