Positive YOY Results for US Hotel Industry for Week Ending January 13th - 2018
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 7-13 January 2018, according to data from STR.
In comparison with the week of 8-14 January 2017, the industry recorded the following:
- Occupancy: +0.2% to 56.7%
- Average daily rate (ADR): +5.4% to US$129.08
- Revenue per available room (RevPAR): +5.5% to US$73.16
Among the Top 25 Markets, Houston, Texas, reported the largest increase in RevPAR (+24.5% to US$71.78), due primarily to the only double-digit increase in occupancy (+17.9% to 66.5%).
Miami/Hialeah, Florida, posted the only double-digit lift in ADR (+11.0% to US$233.92), which resulted in the second-highest jump in RevPAR (+17.5% to US$186.55).
Philadelphia, Pennsylvania-New Jersey, experienced the second-highest rise in occupancy (+8.2% to 59.5%). RevPAR in the market grew 12.0% to US$70.09.
Detroit, Michigan, reported the steepest decline in RevPAR (-29.6% to US$62.73), primarily because of the largest decrease in ADR (-20.1% to US$107.20).
Tampa/St. Petersburg, Florida, experienced the largest drop in occupancy (-12.5% to 69.3%), along with the second-largest decreases in ADR (-15.7% to US$129.36) and RevPAR (-26.2% to US$89.67).
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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