U.S. hotel industry reported positive year-over-year results
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 15-21 April 2018, according to data from STR.
In comparison with the week of 16-22 April 2017, the industry recorded occupancy: +3.1% to 70.1%, average daily rate (ADR): +5.4% to $131.15, and revenue per available room (RevPAR): +8.7% to $91.89.
STR analysts note that performance growth was lifted by the comparison with the time of Easter and the days following the holiday in 2017.
Among the Top 25 Markets, San Francisco/San Mateo, California, reported the highest rise in RevPAR (+56.0% to $261.89), due primarily to the largest lift in ADR (+48.7% to $298.37).
Detroit, Michigan, experienced the largest jump in occupancy (+23.1% to 75.6%) and a double-digit rise in RevPAR (+33.8% to $78.24).
New Orleans, Louisiana, posted the second-largest increases in all three key performance metrics: occupancy (+12.4% to 81.0%), ADR (+21.0% to $177.94) and RevPAR (+36.0% to $144.12).
Overall, 23 of the Top 25 Markets reported an increase in RevPAR.
Norfolk/Virginia Beach, Virginia, reported the steepest declines in all three key performance metrics: occupancy (-1.8% to 66.3%), ADR (-2.6% to $94.69) and RevPAR (-4.4% to $62.76).
Boston, Massachusetts, saw the only other decreases in ADR (-1.2% to $205.74) and RevPAR (-0.7% to $159.80).
Two additional markets reported decreases in occupancy: Los Angeles/Long Beach, California (-0.5% to 80.6%), and Nashville, Tennessee (-0.1% 80.1%). ■