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STR: New Orleans tops September performance
October 21 2010

New Orleans reported the largest increases in occupancy (+34.9%) and in RevPAR (+47.1%) for September, according to data from STR.

Highlights
  • Overall the industry's occupancy rose 6.7%, ADR was up 2.0%, and RevPAR increased 8.8%.
  • New York reported the largest ADR increase, rising 12.1% to US$280.78.
  • The economy segment was the only segment to report a decrease in any of the three key metrics, falling 0.6% in ADR.
By Rachael Spann Urie
Director, Public Relations, STR
rurie@str.com

HENDERSONVILLE, Tennessee—New Orleans, Louisiana, reported the largest occupancy and revenue-per-available-room increases for September 2010, according to data from STR.

The market’s occupancy rose 34.9% to 57.0%, and RevPAR increased 47.1% to US$55.12. Average daily rate rose 9.0% to US$96.76.

Overall, the industry’s occupancy was up 6.7% to 59.9%, ADR ended the month with a 2.0% increase to US$99.31, RevPAR rose 8.8% to US$59.49.

“The continued demand recovery is indicative of the fact that the transient customer, both business and leisure, have returned to some markets and have even surpassed historical highs in terms of rooms purchased,” said Mark Lomanno, president of STR. “While we also have seen an uptick in group travel, it has not yet returned to pre-2008 levels. Once that happens, we expect to begin to see some meaningful room rate growth.”

Among the top 25 markets, Detroit, Michigan, followed New Orleans with a 15.7% increase in occupancy to 58.9%. None of the top markets reported occupancy decreases for the month.

New York, New York, led the ADR increases, rising 12.1% to US$280.78. Nashville, Tennessee (-3.6% to US$85.10), and Norfolk-Virginia Beach, Virginia (-3.1% to US$83.50), reported the largest ADR decreases for the month.

Three top markets, excluding New Orleans, posted RevPAR increases of more than 15%: Orlando, Florida (+17.1% to US$39.45); Boston (+16.1% to US$120.49); and Miami-Hialeah, Florida (+15.8% to US$64.71).

Among the chain-scale segments, the upscale segment experienced the largest occupancy increase, rising 7.6% to 67.0%, followed by the economy segment with a 7.4% increase to 53.8%.

The economy segment was the only segment to report an ADR decrease in September, falling 0.6% to US$50.45.

The luxury segment rose 12.3% in RevPAR to US$168.93, reporting the largest increase in that metric, followed by the upscale segment (+9.1% to US$72.61) and the upper-upscale segment (+9.0 percent to US$100.24).


Source: STR

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