U.S. Hotels Perform Well in August

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According to STR, the U.S. hotel industry recorded positive results in the three key performance measurements during the week ending August 30, 2014.
 
In year-over-year measurements, the industry's occupancy rate rose 3.8 percent to 66.5 percent. Average daily rate increased 5.4 percent to finish the week at US$114.49. Revenue per available room for the week was up 9.4 percent to finish at US$76.09.
 
Sixteen of the Top 25 Markets recorded double-digit RevPAR increases for the week. Leading the increases was: New Orleans, Louisiana (+26.9 percent to US$62.46); Denver, Colorado (+24.4 percent to US$96.59); Detroit, Michigan (+21.4 percent to US$64.71); Atlanta, Georgia (+18.1 percent to US$73.54); St. Louis, Missouri-Illinois (+17.6 percent to US$67.87); and Orlando, Florida (+16.8 percent to US$52.44).
 
New Orleans achieved the largest occupancy increase, up 17.7 percent to 56.7 percent, followed by Detroit (+14.1 percent to 72.9 percent) and Atlanta (+10.3 percent to 70.4 percent).
 
Denver experienced the largest ADR increase, rising 15.9 percent to US$117.83. San Francisco/San Mateo, California, followed with a 12.7-percent increase to US$241.21.
 
Philadelphia, Pennsylvania-New Jersey, reported the only RevPAR (-4.3 percent to US$77.25) and ADR (-1.8 percent to US$116.48) decrease for the week. The market also recorded the largest occupancy decline, falling 2.5 percent to 66.3 percent.