STR Reports US Performance for Week Ending 6 March 2010
In year-over-year measurements, the industrys occupancy ended the week with a 4.6-percent increase to 57.7 percent. Average daily rate dropped 1.9 percent to finish the week at US$97.80. Revenue per available room for the week was up 2.6 percent to US$56.44.
The U.S. hotel industry reported mixed results in the three key performance measurements during the week of 7-13 March 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy ended the week with a 4.6-percent increase to 57.7 percent. Average daily rate dropped 1.9 percent to finish the week at US$97.80. Revenue per available room for the week was up 2.6 percent to US$56.44.
Among the Chain Scale segments all seven segments ended the week with occupancy increases. The Luxury segment reported the largest increases in occupancy and RevPAR, jumping by 10.8 percent to 67.4 percent and 7.7 percent to US$168.51, respectively.
Among the Top 25 Markets, Nashville, Tennessee, experienced the largest occupancy increase, rising 21.4 percent to 65.6 percent, followed by New Orleans, Louisiana (+20.5 percent to 81.2 percent), and Anaheim-Santa Ana, California (+15.5 percent to 70.8 percent). Two top markets posted occupancy declines: Houston, Texas (-5.1 percent to 64.2 percent), and Norfolk-Virginia Beach, Virginia (-1.6 percent to 47.0 percent).
New Orleans, which hosted the American Academy of Orthopaedic Surgeons 2010 Annual Meeting March 9-13 2010, reported the largest ADR and RevPAR increases. The market’s ADR rose 38.3 percent to US$168.78 and RevPAR jumped 66.7 percent to US$137.06.
Nashville was the only market, besides New Orleans, to report a double-digit ADR increase, up 10.6 percent to US$100.34. Tampa-St. Petersburg, Florida posted the largest ADR decrease, falling 9.5-percent decrease to US$104.95, followed by Boston, Massachusetts, with a 8.6-percent decrease to US$123.47.
Other than New Orleans, two markets reported RevPAR increases of 20 percent or more: Nashville (+34.3 percent to US$65.81) and Miami-Hialeah, Florida (+20.8 percent to US$148.59). Houston posted the largest decrease, falling 11.3 percent to US$60.44, followed by Tampa-St. Petersburg (-6.1 percent to US$77.14) and Seattle, Washington (-5.6 percent to US$65.91).
