HENDERSONVILLE, Tennessee—The U.S. hotel industry in October reported increases in all three key performance metrics, according to data from STR.
Overall, the U.S. hotel industry’s occupancy rose 2.9 percent to 63.1 percent, its average daily rate was up 3.9 percent to US$104.99 and its revenue per available room increased 7.0 percent to US$66.20.
“October proved to be another strong month for the hotel industry,” said Amanda Hite, president of STR. “We continue to measure low supply growth, increased demand and steady increases in room revenue. These favorable conditions persist despite macroeconomic volatility as 2011 comes to a close.”
Among the Top 25 Markets, Detroit, Michigan, reported the largest occupancy increase, rising 10.4 percent to 64.5 percent, followed by Nashville, Tennessee, with a 10.3-percent increase to 67.8 percent. New Orleans, Louisiana, fell 3.1 percent in occupancy to 69.6 percent, posting the largest decrease in that metric.
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Four top markets experienced double-digit ADR increases: San Francisco/San Mateo, California (+19.4 percent to US$188.24); Miami-Hialeah, Florida (+12.0 percent to US$141.37); Nashville (+11.9 percent to US$99.15); and St. Louis, Missouri-Illinois (+11.4 percent to US$91.75). Atlanta, Georgia (-1.6 percent to US$87.02), and Washington, D.C. (-0.5 percent to US$158.80), reported the only ADR decreases.
Nashville jumped 23.5 percent in RevPAR to US$67.25, achieving the largest increase in that metric, followed by Miami-Hialeah (+22.4 percent to US$105.71) and San Francisco/San Mateo (+20.4 percent to US$161.27). Atlanta fell 3.8 percent in RevPAR to US$52.98, posting the largest decrease in that metric, followed by Washington, D.C., with a 1.8-percent decrease to US$117.56.
View U.S. hotel review for October.
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