HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in all three key performance metrics during August 2012, according to data from STR.
Overall, the U.S. hotel industry’s occupancy rose 2.8 percent to 67.8 percent, its average daily rate was up 4.3 percent to US$107.00 and its revenue per available room increased 7.2 percent to US$72.55.
“The hotel industry snapped back in August after a tepid July. Driven primarily by an ADR increase of 4.3%, RevPAR rose 7.2 percent for the month, while occupancy grew 2.8 percent,” said Bobby Bowers, senior VP of operations at STR. “Because of an extra weekend day in August, demand showed a healthy increase, rising 3.4 percent, and supply growth inched up 0.6 percent. Not to mention, about eight of the Top 25 Markets ran occupancies of 80 percent or higher. We are now moving into the important fall meetings and conference season, and we’re hoping to see some strength in group numbers down the home stretch.”
Among the Top 25 Markets, Houston, Texas, experienced the largest occupancy increase, rising 13.8 percent to 65.2 percent, followed by Tampa-St. Petersburg, Florida, with a 9.8-percent increase to 62.9 percent. New Orleans, Louisiana (-1.6 percent to 54.2 percent) and Miami-Hialeah, Florida (-1.2 percent to 72.3 percent) ended the month with the largest occupancy decreases.
Tampa-St. Petersburg, which experienced high increases after hosting the Republican National Convention during August, grew 33.4 percent in ADR to US$115.26, posting the largest increase in that metric, followed by Oahu Island, Hawaii (+16.5 percent to US$196.96), and San Francisco/San Mateo, California (+12.8 percent to US$180.19).
Three markets achieved RevPAR increases of more than 15 percent: Tampa-St. Petersburg (+46.4 percent to US$72.46); Oahu Island (+20.9 percent to US$177.33); and Houston (+18.8 percent to US$58.38). None of the top markets experienced RevPAR decreases for the month.
View the U.S. hotel review for the month of August.
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