The U.S. hotel industry posted occupancy and RevPAR declines during the week of 21 - 27 September 2008, according to data from STR. Average Daily Rate increased.
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In year-over-year measurements, the industry's occupancy fell 4.9 percent to end the week at 64.5 percent. Average daily rate increased 3.0 percent to finish the week at $111.25. Revenue per available room for the week decreased 2.0 percent to finish at $71.72.
Brad Garner, VP of client services at STR, said the last full week of September is an extension of the earlier weeks. 'Using the four weeks ending the 27th as a proxy for final month-end results, September will be weak,' said Garner. 'Occupancy levels declined over 5 percent, contributing heavily to the almost 2-percent decline in industry-wide RevPAR. This came in spite of a 3.6 percent climb in ADR over the same 28-day period last year.'
RevPAR percent change fluctuated heavily through the course of the week. RevPAR growth reached as high as 7.8 percent on Sunday, 21 September and declines peaked at 8.9 percent on Saturday, 27 September 2008.
Garner added, 'The only bright spot last week was San Francisco's weekly RevPAR performance which increased over 20 percent. Houston posted significant weather-related performance increases over the same week last year.'
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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.
