U.S. Hotel Market Performs Well in Mid-July

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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 July 12, 2014.

In year-over-year measurements, the industry's occupancy rate rose 0.8 percent to 71.8 percent. Average daily rate increased 3.4 percent to finish the week at US$113.91. Revenue per available room for the week was up 4.2 percent to finish at US$81.77.

Of the Top 25 Markets, Denver, Colorado, reported the largest occupancy increase, rising 7.5 percent to 85.5 percent. St. Louis, Missouri-Illinois, followed with a 5.1-percent increase to 76.5 percent. San Diego, California, fell 12.5 percent in occupancy to 77.9 percent, posting the only double-digit decrease in that metric.

Three markets achieved double-digit ADR increases: Denver (+14.5 percent to US$116.46); Seattle, Washington (+12.1 percent to US$157.83); and New Orleans, Louisiana (+10.6 percent to US$128.77).

Six markets experienced RevPAR growth of more than 10.0 percent: Denver (+23.1 percent to US$99.61); New Orleans (+15.4 percent to US$85.86); St. Louis (+15.2 percent to US$75.78); Boston, Massachusetts (+14.0 percent to US$151.75); Seattle (+11.0 percent to US$143.15); and Tampa/St. Petersburg, Florida (+10.1 percent to US$65.89).

Houston, Texas, reported the largest decreases in ADR (-8.8 percent to US$98.40) and RevPAR (-17.4 percent to US$67.06).