U.S. hotel occupancy rose 1.7% to 71.5% during the week of 23-29 September. ADR increased 7.3% to $137.31 and RevPAR rose 9.1% to $98.15.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 23-29 September 2018, according to data from STR.
In comparison with the week of 24-30 September 2017, the industry recorded the following:
- Occupancy: +1.7% to 71.5%
- Average daily rate (ADR): +7.3% to US$137.31
- Revenue per available room (RevPAR): +9.1% to US$98.15
Among the Top 25 Markets, San Francisco/San Mateo, California, reported the largest jump in RevPAR (+60.5% to US$334.78), driven by the largest increase in ADR (+52.0% to US$369.01). STR analysts attribute the spike in hotel rates to Dreamforce 2018.
Detroit, Michigan, experienced the only double-digit rise in occupancy (+14.3% to 78.1%).
New York, New York, saw the second-largest increases in ADR (+25.5% to US$376.55) and RevPAR (+31.3% to US$355.97). The UN General Session provide a substantial lift to rates in the market.
Overall, 19 of the Top 25 Markets registered an increase in RevPAR.
Houston, Texas, reported the largest decrease in RevPAR (-16.7% to US$82.84), due primarily to the steepest decline in occupancy (-22.2% to 67.4%). The market’s year-over-year percentage changes will continue to be affected by comparison with the post-Hurricane Harvey period in 2017.
St. Louis, Missouri-Illinois, posted the only drop in ADR (-3.0% to US$110.92).
New Orleans, Louisiana, saw the only other double-digit decreases in occupancy (-12.2% to 61.5%) and RevPAR (-10.1% to US$86.28).
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.