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.
During the week of 18-24 February, Canada's hotels saw mostly flat occupancy (+0.1% to 60.6%), but ADR increased 2.5% to 146.14 Canadian dollars ($113.64) and RevPAR rose 2.6% to CA$88.56 ($68.87).
Hotels in the UK faced a challenging start to the year as escalating costs, particularly in payroll, completely wiped out the revenue growth recorded this month and led to a 3.9% year-on-year decline in profit per room, according to the latest worldwide poll of full-service hotels from HotStats.
Hotels in the Middle East reported occupancy rose 1.9% to 69.1% in January, while a 3.4% ADR decline to $170.28 pushed RevPAR down 1.6% to $117.75. Africa's hotel industry saw occupancy increase 5.7% to 53.4%, ADR increase 2.6% to $126.55 and RevPAR increase 8.4% to $67.54 during the month.
Australia sees performance growth thanks to strong tourism and corporate business - Indonesia reports performance declines following Mount Agung eruption and Chinese New Year calendar shift - Mainland China sees highest January occupancy level in recent years, although rates dropped