Mostly Negative YOY Results for US Hotel Industry for Week Ending July 8th – 2017
The U.S. hotel industry reported mostly negative performance for the week of 2-8 July. Occupancy fell 3% to 65.3%, and despite a 1.1% ADR increase to $122.73, RevPAR declined 2% to $80.11.
The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 2-8 July 2017, according to data from STR.
In comparison with the week of 3-9 July 2016, the industry recorded the following:
- Occupancy: -3.0% to 65.3%
- Average daily rate (ADR): +1.1% to US$122.73
- Revenue per available room (RevPAR): -2.0% to US$80.11
Among the Top 25 Markets, Norfolk/Virginia Beach, Virginia, registered the largest year-over-year increase in RevPAR (+6.5% to US$104.82), due primarily to the week’s largest increase in ADR (+5.2% to US$143.23).
New Orleans, Louisiana, saw the week’s largest increase in occupancy (+5.5% to 63.5%).
Four Top 25 Markets saw a double-digit RevPAR decrease for the week: Houston, Texas (-19.5% to US$38.75); Philadelphia, Pennsylvania-New Jersey (-19.5% to US$69.79); Nashville, Tennessee (-14.1% to US$86.41); and Dallas, Texas (-13.0% to US$48.80).
Houston reported the largest decrease in ADR (-9.0% to US$81.45).
Three Top 25 Markets showed a double-digit decline in occupancy: Philadelphia (-12.1% to 61.4%), Nashville (-11.8% to 66.7%) and Houston (-11.6% to 47.6%).
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