Positive YOY Results for US Hotel Industry for Week Ending February 24th – 2018
The U.S. hotel industry reported flat occupancy during the week of 18-24 February, but ADR increased 1.9% to $127.03 and RevPAR rose 2% to $83.31.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 18-24 February 2018, according to data from STR.
In comparison with the week of 19-25 February 2017, the industry recorded the following:
- Occupancy: flat at 65.6%
- Average daily rate (ADR): +1.9% to US$127.03
- Revenue per available room (RevPAR): +2.0% to US$83.31
Among the Top 25 Markets, Houston, Texas, reported the highest jump in RevPAR (+21.3% to US$87.16), due primarily to the only double-digit increase in occupancy (+15.0% to 75.8%).
Miami/Hialeah, Florida, posted the only double-digit lift in ADR (+15.2% to US$280.77), resulting in the second-largest rise in RevPAR (+18.7% to US$250.46).
Minneapolis/St. Paul, Minnesota, experienced the second-highest increase in occupancy (+6.4% to 61.3%), resulting in the third-largest increase in RevPAR (+11.5% to US$68.21).
Overall, 17 of the Top 25 Markets reported increases in RevPAR.
New Orleans, Louisiana, reported the only double-digit declines in ADR (-17.7% to US$167.63) and RevPAR (-12.8% to US$137.21).
Orlando, Florida, saw the largest dip in occupancy (-4.4% to 89.2%).
San Francisco/San Mateo, California, reported the second-largest decreases in ADR (-5.4% to US$192.41) and RevPAR (-7.6% to US$147.14).
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.