STR: US Hotel Results for week ending 19 November 2016

The e U.S. hotel industry experienced a 4.5% occupancy increase to 65.8%, while ADR rose 4.6% to $122.02 and RevPAR increased 9.2% to $80.25 during the week of 13-19 November 2016

 

Fifteen (15) of Top 25 Markets had double-digit RevPAR Growth

 

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive results in the three key performance metrics during the week of 13-19 November 2016, according to data from STR.  In year-over-year comparisons, the industry’s occupancy rose 4.5% to 65.8%. Average daily rate (ADR) increased 4.6% to US$122.02. Revenue per available room (RevPAR) grew 9.2% to US$80.25.

Among the Top 25 Markets, New Orleans, Louisiana, posted the largest year-over-year increases in ADR (+15.9% to US$163.82) and RevPAR (+28.9% to US$123.41). Occupancy in the market grew 11.3% to 75.3%.  Three additional markets saw a RevPAR increase of 20.0% or more: San Diego, California (+23.0% to US$114.34); St. Louis, Missouri (+20.3% to US$68.90); and Los Angeles/Long Beach, California (+20.0% to US$143.37).

 

After New Orleans, three other markets recorded a double-digit rise in ADR: Los Angeles/Long Beach (+10.9% to US$172.71); Phoenix, Arizona (+10.7% to US$129.40); and Boston, Massachusetts (+10.2% to US$208.52).  Norfolk/Virginia Beach, Virginia, registered the week’s largest increase in occupancy (+15.6% to 56.1%). Aside from the aforementioned New Orleans, two additional markets saw a double-digit lift in the metric: St. Louis (+13.5% to 67.7%) and San Diego (+13.3% to 77.0%).

Miami/Hialeah, Florida, reported the steepest declines in ADR (-9.5% to US$169.91) and RevPAR (-18.4% to US$126.55). Occupancy in the market dropped 9.9% to 74.5%.  Houston, Texas, saw the only double-digit decrease in occupancy (-10.4% to 63.3%) and the only other double-digit decline in RevPAR (-15.7% to US$67.31).


Jeff Higley, VP, Digital Media & Communications
jhigley@str.com / +1 (615) 824-8664 ext. 3318

Nick Minerd. Public Relations Manager
nminerd@str.com / +1 (615) 824-8664 ext. 3305

The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at sricca@hotelnewsnow.com

Source: Hotel News Now / 23 November 2016

 

 Land for sale in Florida LIKE US ON FACEBOOK