Negative YOY Results for US Hotel Industry for Week Ending September 23rd - 2017
The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 17-23 September 2017, according to data from STR.
In comparison with the week of 18-24 September 2016, the industry recorded the following:
- Occupancy: -0.7% to 71.4%
- Average daily rate (ADR): -1.9% to US$128.44
- Revenue per available room (RevPAR): -2.5% to US$91.76
Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year increases in occupancy (+37.2% to 87.4%) and RevPAR (+47.8% to US$101.56). Amid recovery from Hurricane Harvey, Houston also posted an ADR increase of 7.7% to US$116.24.
Three additional Top 25 Markets reported a double-digit rise in RevPAR for the week: Tampa/St. Petersburg, Florida (+18.7% to US$90.05); Orlando, Florida (+17.1% to US$81.96); and Nashville, Tennessee (+11.8% to US$137.76)
The two Top 25 Markets that posted the highest increases in ADR were Nashville (+8.7% to US$160.20) and Tampa/St. Petersburg (+8.7% to US$119.13).
Orlando was the only other market to experience a double-digit lift in occupancy (+12.4% to 76.1%).
Minneapolis/St. Paul, Minnesota, reported the only double-digit decline in occupancy (-12.7% to 77.7%) and the largest drop in RevPAR (-20.7% to US$96.84).
San Francisco/San Mateo, California, posted the second-largest decrease in RevPAR (-19.5% to US$220.82), due primarily to the week’s largest decrease in ADR (-17.9% to US$244.15).
Overall, eight Top 25 markets reported a double-digit decline in RevPAR.
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