Positive YOY Results for US Hotel Industry for Week Ending June 2nd – 2018
The U.S. hotel industry reported occupancy rose 0.1% to 64.1% during the week of 27 May to 2 June, while ADR increased 2.1% to $122.58 and RevPAR rose 2.3% to $78.61.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 27 May through 2 June 2018, according to data from STR.
In comparison with the week of 28 May through 3 June 2017, the industry recorded the following:
- Occupancy: +0.1% to 64.1%
- Average daily rate (ADR): +2.1% to US$122.58
- Revenue per available room (RevPAR): +2.3% to US$78.61
Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, reported the largest increases in each of the three key performance metrics: occupancy (+12.4% to 73.7%), ADR (+12.1% to US$144.96) and RevPAR (+26.0% to US$106.85).
Houston, Texas, experienced the second-largest rises in occupancy (+11.5% to 61.2%) and ADR (+9.9% to US$97.89), which resulted in the second-highest jump in RevPAR (+22.6% to US$59.90).
Minneapolis/St. Paul, Minnesota-Wisconsin, registered the third-largest increase in RevPAR (+15.6% to US$71.14), due primarily to the only other double-digit lift in occupancy (+10.2% to 63.9%).
Overall, 16 of the Top 25 Markets reported an increase in RevPAR.
Denver, Colorado, reported the only double-digit decrease in RevPAR (-11.2% to US$88.02), due in part to the largest decline in ADR (-3.8% to US$122.81).
Tampa/St. Petersburg, Florida, experienced the steepest decline in occupancy (-8.0% to 59.4%) and the second-largest decrease in RevPAR (-6.7% to US$70.00).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Categories: Market Reports