The U.S. hotel industry reported mostly negative year-over-year results in the three key performance metrics during the week of 13-19 October 2019, according to data from STR.
In comparison with the week of 14-20 October 2018, the industry recorded the following:
• Occupancy: -0.9% to 72.4%
• Average daily rate (ADR): +0.2% to US$135.99
• Revenue per available room (RevPAR): -0.7% to US$98.51
Among the Top 25 Markets, Washington, D.C.-Maryland-Virginia, posted the largest increase in RevPAR (+18.5% to US$168.38), driven by the only double-digit lift in ADR (+16.6% to US$206.45).
Denver, Colorado, experienced the highest rise in occupancy (+7.4% to 83.7%) and the only other double-digit increase in RevPAR (+14.5% to US$125.68).
Minneapolis/St. Paul, Minnesota-Wisconsin, saw the largest decline in RevPAR (-15.4% to US$87.63), because of the steepest drop in occupancy (-10.9% to 69.9%).
Boston, Massachusetts, recorded the largest decrease in ADR (-7.3% to US$232.72) and the second-steepest decline in RevPAR (-14.1% to US$200.49).
Norfolk/Virginia Beach, Virginia, reported the second-largest drop in occupancy (-7.6% to 66.3%).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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© 2019 Hotel News Resource