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STR: RevPAR increases in US weekly results
 

11 March 2010 7:56 AM
By Rachael Spann Urie
Communications Coordinator, STR
HotelNewsNow.com columnist
rurie@str.com
 

HENDERSONVILLE, Tennessee—The United States hotel industry posted only its third revenue-per-available-room increase in 18 months for the week ending 6 March 2010, rising 0.9 percent to US$52.75, according to data from Smith Travel Research. It was the first time the increase wasn’t holiday-related.

Overall, the industry’s occupancy ended the week with a 4.0-percent increase to 54.9 percent and average daily rate dropped 3.0 percent to finish the week at US$96.05.

“The growth in year-over-year RevPAR is significant because the occupancies are clearly showing an improvement and the decline in rates is finally starting to slow,” said Randy Smith, co-founder and CEO of STR. “While the size of the RevPAR increase is not significant, it is a clear sign that the outlook for the industry is improving.

“We do expect to see positive weekly RevPAR performances for the industry through the end of April,” Smith added. “If gasoline prices hold steady, this positive RevPAR performance could be a good indicator of a better summer than we’ve had for the past couple years, which of course is the key season for most hoteliers.”

Among the chain-scale segments, the luxury segment reported the only double-digit occupancy increase, jumping 16.5 percent to 66.4 percent The segment also reported the largest RevPAR increase, rising 10.2 percent to US$160.19.

Among the top 25 markets, Denver, Colorado, reported the largest occupancy increase, jumping 19.4 percent to 57.0 percent. Norfolk-Virginia Beach, Virginia, dropped 13.4 percent to 42.6 percent, posting the largest occupancy decline for the week.

Miami-Hialeah led the ADR increases, rising 10.1 percent to US$189.37. Anaheim-Santa Ana, California, experienced the largest ADR decrease, falling 12.1 percent to US$102.87.

Miami-Hialeah jumped 30.0 percent in RevPAR to US$151.25, reporting the largest increase in that metric. Norfolk-Virginia Beach posted the largest RevPAR decrease, falling 23.0 percent to US$29.98.

Read official press release for week ending 6 March 2010 from STR.

 

Source: STR

 

 


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2 Comments
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11 March 2010 at 2:43 PM EST
In response to: STR: RevPAR increases in US weekly results
rach1283 commented:
Brett-Thanks for the comment. The other week RevPAR was positive was the week ending 20 December 2008. Occupancy for that week increased 2.0%, ADR was up 0.6%, and RevPAR rose 2.6%.

11 March 2010 at 10:20 AM EST
In response to: STR: RevPAR increases in US weekly results
Brett commented:
I have followed these weekly numbers for a year and besides this past week, the only one I recall with a positive RevPAR was the week ending 1/2/2010. What was the other one and what were the percentage changes for Occ, ADR and RevPAR?



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