STR Reports US Hotel Performance for 1st Quarter

-04-23
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Smith Travel Research The industrys occupancy increased 1.8 percent to 57.7 percent, its average daily rate rose 4.5 percent to US$108.31 and its revenue per available room was up 6.4 percent to US$62.47.

The U.S. hotel industry reported increases in all three key performance metrics during the first quarter of in year-over-year measurements, according to data from STR.

The industry’s occupancy increased 1.8 percent to 57.7 percent, its average daily rate rose 4.5 percent to US$108.31 and its revenue per available room was up 6.4 percent to US$62.47.

“The industry realized nearly 3.0-percent growth in demand as a record 250 million room nights were sold during the first quarter of,” said Brad Garner, COO at STR. “RevPAR increased 6.4 percent, lifted by a solid 4.5-percent gain in ADR. Most impressively, the industry posted meaningful results despite a difficult Easter comparable, stubbornly low group demand and generally tougher demand comparables. 

“We continue to be bullish on industry-wide performance in. However, we will continue to monitor the potency of the sequester and air traffic controller furloughs and their impact on industry results,” Garner commented.

Among the Top 25 Markets, Dallas, Texas, rose 7.1 percent in occupancy to 63.6 percent, reporting the largest increase in that metric. New York, New York, followed with a 6.8-percent increase in occupancy to 78.2 percent. Norfolk-Virginia Beach, Virginia (-1.9 percent to 43.2 percent), and Philadelphia, Pennsylvania-New Jersey (-1.6 percent to 58.0 percent), posted the largest occupancy decreases.

Oahu Island, Hawaii (+18.3 percent to US$208.77), and Miami-Hialeah, Florida (+12.2 percent to US$223.71) achieved the only double-digit ADR increases for the quarter. None of the top markets experienced ADR decreases during the first quarter.

Eight markets experienced double-digit RevPAR increases: Oahu Island (+18.4 percent to US$180.05); Miami-Hialeah (+16.7 percent to US$192.38); New York (+12.9 percent to US$164.63); Houston, Texas (+12.6 percent to US$70.88); Dallas (+11.3 percent to US$58.65); New Orleans (+11.3 percent to US$113.18); Anaheim-Santa Ana, California (+10.5 percent to US$87.44); and Nashville, Tennessee (+10.0 percent to US$63.03). Philadelphia reported the only RevPAR decrease, falling 0.5 percent to US$66.24.





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