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.
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