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STR reports Q3 2012 results
October 24 2012

The industry’s occupancy increased 1.2% to 67.1%; ADR rose 3.9% to $107.34; and RevPAR was up 5.1% to $72.

 

HNN Newswire

HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in all three key performance metrics for third quarter 2012 in year-over-year measurements, according to data from STR.

The industry’s occupancy increased 1.2 percent to 67.1 percent, average daily rate rose 3.9 percent to US$107.34 and revenue per available room was up 5.1 percent to US$72.00.

“Third quarter RevPAR growth was just over 5 percent—the lowest quarterly increase the industry experienced since first quarter 2010,” said Bobby Bowers, senior VP of operations at STR. “The slowdown in RevPAR was primarily attributable to lower occupancy gains in the months of July and September. July demand was negatively impacted by a midweek Fourth of July holiday and two fewer weekend days versus July 2011.

“September demand was hit by the calendar shift of Yom Kippur and Rosh Hashanah. The good news is third-quarter ADR growth was solid at 3.9 percent, despite the demand challenges. We expect a continuation of slightly lower occupancy growth and good ADR movement in the final quarter of 2012.”

Among the Top 25 Markets, New Orleans, Louisiana (+13.7 percent to 65.1 percent), and Houston, Texas (+11.0 percent to 64.3 percent), reported the only double-digit occupancy increases. Minneapolis-St. Paul, Minnesota-Wisconsin, fell 1.1 percent in occupancy to 74.7 percent, posting the largest decrease in that metric.

Four markets experienced ADR increases of more than 10 percent: Oahu Island, Hawaii (+15.2 percent to US$190.73); Tampa-St. Petersburg, Florida (+14.5 percent to US$99.82); San Francisco/San Mateo, California (+13.0 percent to US$183.73); and New Orleans (+10.8 percent to US$112.37).

Four markets achieved RevPAR increases of more than 15 percent: New Orleans (+26.1 percent to US$73.10); Oahu Island (+20.8 percent to US$169.45); Tampa-St. Petersburg (+19.7 percent to US$59.77); and Houston (+16.4 percent to US$57.90). None of the top markets reported RevPAR decreases for the quarter.

Media contacts:

Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318

Rachael Spann Urie
Director, Public Relations
rurie@str.com
+1 (615) 824-8664 ext. 3305

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