STR: US hotel performance for February 2017
 
STR: US hotel performance for February 2017
21 MARCH 2017 7:34 AM

The U.S. hotel industry reported occupancy decreased 0.5% to 61.2% during the month of February. ADR increased 1.7% to $123.24 and RevPAR rose 1.2% to $75.37.

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported mixed results in the three key performance metrics during February 2017, according to data from STR.

In a year-over-year comparison with February 2016:

  • Occupancy: -0.5% to 61.2%
  • Average daily rate (ADR): +1.7% to US$123.24
  • Revenue per available room (RevPAR): +1.2% to US$75.37

February 2017 marked the industry’s 84th consecutive month with a year-over-year increase in RevPAR.

“The 1.2% increase in RevPAR was the lowest for the industry since the last time we had a RevPAR decrease way back in February of 2010,” said Jan Freitag, STR’s senior VP of lodging insights. “That was due mainly to the lowest ADR increase since October 2010. Occupancy performance fell in line with expectations as supply growth outpaced demand, but that supply growth also looks to be placing added pressure on hotelier pricing power.”

Among the Top 25 Markets, Super Bowl LI host, Houston, Texas, experienced the largest year-over-year increase in RevPAR (+18.2% to US$91.14). That growth was driven by a 20.8% rise in ADR to US$135.52 as occupancy for the month dipped 2.2% to 67.2%.

Seattle, Washington, (+10.9% to US$99.42), saw the month’s second-largest lift in RevPAR.

Norfolk/Virginia Beach, Virginia, recorded the largest increase in occupancy (+7.8% to 50.5%) and the only other double-digit rise in RevPAR (+10.8% to US$39.14).

Aside from Houston, no other market posted a double-digit increase in ADR. 

Miami/Hialeah, Florida, reported the steepest declines in ADR (-6.9% to US$231.98) and RevPAR (-7.4% to US$193.78). The market’s occupancy (-0.6% to 83.5%) was nearly flat.

Denver, Colorado, saw the largest decrease in occupancy (-5.8% to 62.4%).

“The top markets (RevPAR: +0.8%) underperformed the rest of the country (RevPAR: +1.2%) even with higher rate growth,” Freitag said. “The difference mostly lies with significantly higher supply growth in the larger markets and subsequent larger occupancy declines. Markets like Miami and Denver are perfect examples of that.”

View the U.S. hotel review for February 2017.

North America Media Contacts:

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

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.