STR: U.S. hotel results for week ending 24 March

STR

STR: U.S. hotel results for week ending 24 March

STR: U.S. hotel results for week ending 24 March

The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 18-24 March 2018, according to data from STR.

  • In comparison with the week of 19-25 March 2017, the industry recorded the following:Occupancy: +1.0 at 69.4 percent
  • Average daily rate (ADR): +4.4 percent to US$133.42
  • Revenue per available room (RevPAR): +5.4 percent to US$92.53

STR analysts note that performance in many major markets was boosted by strong group business, which moved out of the week of 25-31 March due to an earlier Easter. Among the Top 25 Markets, San Francisco/San Mateo, California, reported the highest increase in RevPAR (+29.3 percent to US$227.95), due primarily to the largest lift in ADR (+20.7 percent to US$256.94).

New Orleans, Louisiana, experienced the highest increase in occupancy (+8.8 percent to 84.5 percent) and a double-digit rise in RevPAR (+19.3 percent to US$144.29).

Miami/Hialeah Florida, posted the second-largest jump in ADR (+16.1 percent to US$295.35) and the second-largest increase in RevPAR (+21.4 percent to US$265.56).

Overall, 20 of the Top 25 Markets reported increases in RevPAR.

Los Angeles/Long Beach, California, experienced the largest decrease in occupancy (-7.3 percent to 81.0 percent), resulting in the steepest decline in RevPAR (-7.4 percent to US$144.24).

Denver, Colorado, reported the largest drop in ADR (-1.4 percent to US$121.13).

Anaheim/Santa Ana, California, reported the second-largest declines in occupancy (-6.8 percent to 77.9 percent) and RevPAR (-5.9 percent to US$124.18).

Source = STR
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