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Vacation Real Estate News
STR Reports U.S. Hotel Performance For Week Ending April 25th
(News Source: Smith Travel Research)
(HENDERSONVILLE, TN) -- The U.S. hotel industry posted decreases in all three key performance measurements during the week of 19-25 April, according to data from STR.
In year-over-year measurements, the industry's occupancy fell 8.4 percent to end the week at 59.4 percent. Average daily rate dropped 6.1 percent to finish the week at US$100.44. Revenue per available room for the week decreased 14.1 percent to finish at US$59.67.
The Top 25 Markets reported mixed results in occupancy, ADR and RevPAR in year-over-year results:
- Denver, Colorado, was the only market to report increases in all three key performance measurements: occupancy was up 4.3 percent to 65.1 percent; ADR rose 0.8 percent to US$107.04; and RevPAR increased 5.2 percent to US$69.74.
- Oahu Island, Hawaii, reported the largest occupancy increase among the markets, rising 15.4 percent to end the week at 82.5 percent. Other markets that reported increases in occupancy include: Washington, D.C. (+2.0 percent to 79.3 percent); San Francisco/San Mateo, California (+1.5 percent to 75.3 percent); and Philadelphia, Pennsylvania (+0.1 percent to 74.2 percent).
- Two markets reported decreases in occupancy of more than 15 percent (compared to eight markets the week of 12-18 April): Dallas, Texas (-17.2 percent to 55.1 percent) and Seattle, Washington (-15.5 percent to 58.8 percent).
- New Orleans, Louisiana, reported the largest increase in ADR, which was up 5.4 percent to US$138.79.
- Two markets reported ADR decreases of more than 15 percent: New York, New York (-23.8 percent to US$207.15) and Miami-Hialeah, Florida (-17.6 percent to US$150.14).
- Other than Denver, three markets reported increases in RevPAR: Oahu Island (+6.5 percent to US$126.72); New Orleans (+3.1 percent to US$96.23); and Washington, D.C. (+0.4 percent to US$127.45).
- Three markets reported RevPAR decreases of more than 25 percent: New York (-27.3 percent to US$165.95); Miami-Hialeah (-26.9 percent to US$103.02); and Chicago, Illinois (-25.9 percent to US$71.87).
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