The U.S. hotel industry reported occupancy rose 1% to 70.7% during the week of 11-17 March, and a 2.8% ADR increase to $133.76 pushed RevPAR up 3.9% to $94.55.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 11-17 March 2018, according to data from STR.
In comparison with the week of 12-18 March 2017, the industry recorded the following:
- Occupancy: +1.0 at 70.7%
- Average daily rate (ADR): +2.8% to US$133.76
- Revenue per available room (RevPAR): +3.9% to US$94.55
Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, experienced the largest increases in occupancy (+13.6% to 72.3%) and RevPAR (+19.8% to US$90.57).
Boston, Massachusetts, reported the second-highest increases in occupancy (+12.7% to 74.9%) and RevPAR (+16.1% to US$135.89).
Miami/Hialeah, Florida, posted the only double-digit lift in ADR (+14.1% to US$262.04) and the third-largest jump in RevPAR (+13.0% to US$235.22).
Overall, 17 of the Top 25 Markets reported growth in RevPAR.
San Diego, California, reported the largest decline in RevPAR (-15.0% to US$142.56), due primarily to the only double-digit drop in ADR (-11.8% to US$163.99).
Detroit, Michigan, experienced the largest decrease in occupancy (-7.3% to 64.6%).
St. Louis, Missouri-Illinois, saw the second-largest decrease in ADR (-8.5% to US$99.97) and the only other double-digit decline in RevPAR (-12.0% to US$70.38).
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.