Positive YOY Results for US Hotel Industry for Week Ending February 17th - 2018
During the week of 11-17 February, the U.S. hotel industry saw occupancy increase 1.2% to 62.9%, ADR increase 3.2% to $128.75 and RevPAR increase 4.4% to $80.99.
HIP's six-month growth rate, which has historically confirmed the turning points in US hotel business activity, posted a positive rate of 1.3% in January, following a positive rate of 1.8% in December. This compares to a long-term annual growth rate of 2%, the same as the 40-year average annual growth rate of the industry's gross domestic product.
The Canadian hotel industry reported occupancy rose 1.3% to 58.6% during the week of 11-17 February, while ADR increased 3.6% to 146.50 Canadian dollars ($115.05) and RevPAR rose 4.9% to CA$85.80 ($67.38).
During Super Bowl LII Weekend (2-4 February 2018), the Minneapolis market posted an average occupancy level of 92.5% and an average daily rate (ADR) of US$354.41.
Canada's hotels experienced a 1.1% occupancy increase to 57.4% during the week of 4-10 February, while ADR rose 2.8% to 144.02 Canadian dollars ($115.15) and RevPAR increased 3.9% to CA$82.61 ($66.05).