STR Reports US Performance for Week Ending 1 May 2010
In year-over-year measurements, the industry's occupancy increased 5.7 percent to 58.8 percent. Average daily rate dropped 1.5 percent to US$98.07. Revenue per available room rose 4.2 percent to US$57.62.
Among the Top 25 Markets, New Orleans, Louisiana, which hosted the Jazz & Heritage Festival 23 April-2 May, reported the largest increases in all three key metrics. The market's occupancy was up 18.3 percent to 77.5 percent, ADR increased 12.5 percent to US$150.20, and RevPAR jumped 33.0 percent to US$116.48.
Nashville, Tennessee, followed New Orleans with a 16.6-percent increase in occupancy to 58.6 percent. Three markets posted occupancy decreases: Oahu Island, Hawaii (-8.5 percent to 68.3 percent); Seattle, Washington (-2.6 percent to 63.9 percent); and Norfolk-Virginia Beach, Virginia (-1.0 percent to 55.3 percent).
Other than New Orleans, New York, New York, was the only market to report an ADR increase of more than 5 percent, rising 8.6 percent to US$220.70. Seattle posted the largest ADR decrease, falling 19.1 percent to US$109.06, followed by Chicago, Illinois, with an 11.1-percent decrease to US$111.78.
Five markets, excluding New Orleans, experienced double-digit RevPAR increases: St. Louis, Missouri-Illinois (+17.9 percent to US$52.65); Nashville (+16.6 percent to US$53.67); New York (+15.7 percent to US$185.85); Denver, Colorado (+15.4 percent to US$62.23); and Miami-Hialeah, Florida (+12.1 percent to US$105.98). Seattle posted the largest RevPAR decrease, falling 21.1 percent to US$69.69, followed by Oahu Island with a 10.3-percent decrease to US$104.16.
View U.S. hotel review for week ending 1 May.
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STR provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC and HotelNewsNow.com. For more information, please visit www.str.com.
