U.S. hotel occupancy declined 3.1% year over year to 63.5% during the week of 1-7 July, and despite a 1.1% ADR increase to $123.59, RevPAR dropped 2% to $78.47.
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 1-7 July 2018, according to data from STR.
In comparison with the week of 2-8 July 2017, the industry recorded the following:
• Occupancy: -3.1% to 63.5%
• Average daily rate (ADR): +1.1% to US$123.59
• Revenue per available room (RevPAR): -2.0% to US$78.47
STR analysts note that occupancy declines were mostly a result of the Fourth of July holiday, especially early in the week.
Among the Top 25 Markets, New Orleans, Louisiana, posted the largest jump in RevPAR (+45.6% US$117.55), due to the only double-digit lift in ADR (+43.9% US$182.77).
Phoenix, Arizona, experienced the highest rise in occupancy (+10.3% to 52.9%) and the second-largest increase in RevPAR (+18.6% to US$46.18).
Detroit, Michigan, reported the only other double-digit increase in RevPAR (+16.3% to US$58.83) due to the second-largest increases in occupancy (+6.9% to 61.5%) and ADR (+8.8% to US$95.73).
Overall, 13 of the Top 25 Markets reported an increase in RevPAR.
Boston, Massachusetts, registered the steepest declines in ADR (-9.5% to US$157.97) and RevPAR (-18.1% to US$97.89).
St. Louis, Missouri-Illinois, experienced the largest drop in occupancy (-12.3% to 58.4%).
Chicago, Illinois, reported the second-largest decreases in each of the three key performance metrics: occupancy (-10.3% to 61.6%), ADR (-7.8% to US$118.99) and RevPAR (-17.3% to US$73.33).
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.