The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 7-13 October 2018, according to data from STR.
In comparison with the week of 8-14 October 2017, the industry recorded the following:
Occupancy: -0.7% to 71.9%
Average daily rate (ADR): +1.6% to US$132.76
Revenue per available room (RevPAR): +0.8% to US$95.42
Among the Top 25 Markets, New Orleans, Louisiana, registered the largest increase in RevPAR (+21.5% to US$135.87), driven by a double-digit rise in occupancy (+11.3% to 80.0%) and the largest jump in ADR (+9.1% to US$169.91).
Detroit, Michigan, experienced the highest lift in occupancy (+13.6% to 77.8%), resulting in the second-largest jump in RevPAR (+20.1% to US$85.36).
Nashville, Tennessee, posted the third-largest increase in RevPAR (+11.9% to US$145.70), due primarily to the second-largest lift in ADR (+6.2% to US$168.76).
Overall, 14 of the Top 25 Markets reported growth in RevPAR.
Due to difficult-to-match year-over-year comparisons, Houston, Texas, experienced the steepest declines in occupancy (-25.0% to 63.9%) and RevPAR (-31.3% to US$67.70). Houstons hotel performance was lifted in the weeks and months that followed Hurricane Harvey in 2017 as properties filled with displaced residents, relief workers, insurance adjustors, media members, etc.
Washington, D.C.-Maryland-Virginia, posted the only double-digit drop in ADR (-12.5% to US$173.46), resulting in the second-largest decline in RevPAR (-17.0% to US$134.24).
Miami/Hialeah, Florida, saw the second-largest decrease in occupancy (-14.3% to 66.0%) and the third-largest drop in RevPAR (-16.0% to US$106.88).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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