The U.S. hotel industry posted declines in two key performance measurements during the week of 20 - 26 July 2008, according to data from STR.
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In year-over-year measurements, the industry's occupancy fell 4.4 percent to finish the week at 72.8 percent. Average daily rate increased 2.1 percent to end the week at US$107.69. Revenue per available room for the week fell 2.4 percent to finish at US$78.39.
'Industry occupancies continue to be adversely impacted by economic conditions and increased room supply,' said Bobby Bowers, senior VP of operations at STR. 'July is shaping up to be the industry's seventh consecutive negative occupancy month in 2008.'
Mid-week RevPAR saw the least decline. Wednesday night occupancy dropped only 3.7 percent leading to a RevPAR decrease of only 1.4 percent.
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For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
