STR: US hotel performance for Q3 2018
 
STR: US hotel performance for Q3 2018
22 OCTOBER 2018 8:52 AM

In the third quarter of 2018, U.S. hotel occupancy dipped 0.4% to 71%, ADR rose 2.1% to $131.86 and RevPAR increased 1.7% to $93.65.

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported mixed year-over-year performance results during Q3 2018, according to data from STR.

Compared with Q3 2017:

• Occupancy: -0.4% to 71.0%
• Average daily rate (ADR): +2.1% to US$131.86
• Revenue per available room (RevPAR): +1.7% to US$93.65

Demand (room nights sold) grew 1.6% year over year, while supply (room nights available) increased 2.0% for the third-consecutive quarter.

“Because of the comparison with the post-hurricane demand period of 2017, September broke the industry’s 102-month stretch of consecutive RevPAR increases and ultimately pulled down growth for the quarter as a whole,” said Bobby Bowers, STR’s senior VP of operations. “Actually, that 1.7% rise in RevPAR was the lowest for a Q3 since the current growth cycle started in 2010. Regardless, growth is growth, and overall industry performance remains in good shape with our forecast calling for growth through at least 2019.”

Phoenix, Arizona, experienced the largest increases in occupancy (+4.8% to 61.1%) and RevPAR (+9.3% to US$57.55).

San Francisco/San Mateo, California, posted the highest lift in ADR (+8.3% to US$257.03).

Philadelphia, Pennsylvania-New Jersey, saw the second-largest increases in occupancy (+4.4% to 75.1%) and RevPAR (+8.2% to US$98.57).

Overall, 18 of the Top 25 Markets registered an increase in RevPAR.

Houston, Texas, reported the quarter’s steepest declines in each of the three key performance metrics: occupancy (-11.2% to 59.8%), ADR (-2.1% to US$100.30) and RevPAR (-13.1% to US$59.94).

Washington, D.C.-Maryland-Virginia, posted the only other decrease in ADR (-0.8% to US$142.80).

In absolute values, New York, New York, ranked first in occupancy (89.8%), ADR (US$261.92) and RevPAR (US$235.21).

North America Media Contacts:

Nick Minerd
Communications Director
nminerd@str.com
+1 (615) 824-8664 ext. 3305

Haley Luther
Communications Associate
hluther@str.com
+1 (615) 824-8664 ext. 3500

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.