U.S. hotel industry reported positive year-over-year results
In comparison with the week of 4-10 September 2016, the industry recorded occupancy: +2.1% to 64.0%; average daily rate (ADR): +1.6% to $120.78; and Revenue per available room (RevPAR): +3.7% to $77.31.
Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year increases in each of the three key performance metrics. Amid the aftermath of Hurricane Harvey, occupancy rose 66.1% to 86.6%, ADR was up 23.9% to $114.27 and RevPAR surged 105.9% to $98.91.
STR analysts note that hotels in the market filled up with displaced residents, FEMA workers and other demand related to recovery efforts.
Three additional markets experienced a double-digit lift in RevPAR for the week: Atlanta, Georgia (+39.4% to $78.93; Orlando, Florida (+21.8% to $67.92); and Detroit, Michigan (+12.4% to $65.67).
Atlanta, a destination for many Florida evacuees, experienced the only other double-digit increase in occupancy (+21.3% to 71.5%) and the second-largest increase in ADR (+14.9% to $110.45).
Ahead of Hurricane Irma landfall, Miami/Hialeah, Florida, saw the week’s largest drop in occupancy (-20.2% to 50.9%) and the largest decrease in RevPAR (-25.5% to $65.55).
New Orleans, Louisiana, reported the largest decrease in ADR (-7.3% to $108.54), which combined with a double-digit decline in occupancy (-10.7% to 51.9%), led to the second steepest drop in RevPAR (-17.3% to $56.37). ■