The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 6-12 October 2019, according to data from STR.
In comparison with the week of 7-13 October 2018, the industry recorded the following:
• Occupancy: -1.4% to 70.8%
• Average daily rate (ADR): -1.2% to US$131.38
• Revenue per available room (RevPAR): -2.6% to US$92.99
STR analysts attribute performance declines in many markets to the Yom Kippur calendar shift. Travel and conference schedules during the comparable time period last year were not affected by the Jewish holidays.
Among the Top 25 Markets, St. Louis, Missouri-Illinois, saw the only double-digit increase in RevPAR (+13.3% to US$83.16), driven by the largest lift in ADR (+6.9% to US$113.45).
Tampa/St. Petersburg, Florida, experienced the highest rise in occupancy (+6.5% to 69.3%) and matched for the second-largest jump in RevPAR (+8.9% to US$82.43).
Dallas, Texas (+8.9% to US$88.40) was the other market with 8.9% growth in RevPAR.
New Orleans, Louisiana, saw the only double-digit declines in occupancy (-14.2% to 68.6%) and ADR (-11.3% to US$151.15), which resulted in the steepest drop in RevPAR (-23.9% to US$103.75).
Boston, Massachusetts, reported the second-largest decline in RevPAR (-16.5% to US$182.61).
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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