Negative YOY Results for US Hotel Industry for Week Ending January 20th - 2018
The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 14-20 January 2018, according to data from STR.
In comparison with the week of 15-21 January 2017, the industry recorded the following:
- Occupancy: -1.5% to 55.4%
- Average daily rate (ADR): -1.7% to US$120.55
- Revenue per available room (RevPAR): -3.2% to US$66.79
Among the Top 25 Markets, Detroit, Michigan, reported the largest increase in RevPAR (+50.3% to US$90.04), due primarily to the largest jump in ADR (+34.7% to US$135.20). Occupancy in the market increased 11.5% to 66.6%. STR analysts attribute the significant year-over-year growth to the date shift of the North American International Auto Show from 7-22 January 2017 to 13-28 January 2018.
Houston, Texas, experienced the highest rise in occupancy (+14.0% to 66.3%), which pushed the third-largest jump in RevPAR (+15.1% to US$71.52).
Philadelphia, Pennsylvania-New Jersey, posted the second-largest increase in occupancy (+11.6% to 61.6%), resulting in the second-highest rise in RevPAR (+20.1% to US$75.78).
Overall, 17 of the Top 25 Markets reported RevPAR growth during the week.
Washington, D.C.-Maryland-Virginia, reported the largest decreases in all three key performance metrics: occupancy (-21.2% to 51.2%), ADR (-54.4% to US$125.05) and RevPAR (-64.1% to US$63.97). STR analysts note the year-over-year declines were due to comparison with the week of the 2017 Presidential Inauguration and Women’s March.
Anaheim/Santa Ana, California, posted the second-largest declines in occupancy (-11.1% to 67.7%) and ADR (-6.3% to US$145.96), resulting in the second-largest drop in RevPAR (-16.8% to US$98.75).
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.
Logos, product and company names mentioned are the property of their respective owners.