US Hotel Industry Posts Record Year In 2017
In 2017, the U.S. hotel industry saw occupancy increase 0.9% to $65.9%, and a 2.1% ADR increase to $126.72 drove RevPAR up 3% to $83.57 over 2016.
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The dip in U.S. market share is a hindrance to the presidents economic goals, which the Visit U.S. coalition intends to help correct. Research prepared for Visit U.S. by the U.S. Travel Association shows that while global travel volume increased 7.9 percent from 2015 to 2017, the U.S. slice of that growing pie fell from 13.6 percent to 11.9 percent in the same periodthe first drop after more than a decade of consistent growth.
With the trend of increasing levels of supply and steadying levels of demand continuing in 2018, hoteliers need to reach potential guests at meaningful micro-moments throughout the entire travel planning journey. But the even greater mission that should be at the center of every hoteliers strategy is closing the loop on the customer lifecycle. To achieve this, hoteliers need to focus on reaching potential guests at meaningful micro-moments, preparing for Googles Mobile-First Index, fostering customer loyalty, creating fresh content, and more.
The U.S. hotel industry reported mostly positive performance results during the week of 7-13 January. Occupancy rose just 0.2% to 56.7%, ADR increased 5.4% to $129.08 and RevPAR rose 5.5% to $73.16.
The Canadian hotel industry reported occupancy rose 2% to 49.9% during the week of 7-13 January, while ADR jumped 5.4% year over year to 141.11 Canadian dollars ($113.21) and RevPAR increased 7.5% to CA$70.44 ($56.51).