STR: US hotel performance for August 2016
 
STR: US hotel performance for August 2016
21 SEPTEMBER 2016 8:10 AM

During August 2016, the U.S. hotel industry reported nearly flat occupancy (-0.4% to 70.2%), but both ADR (+2.5% to $125.42) and RevPAR (+2.1% to $88.10) showed year-over-year increases.

HENDERSONVILLE, Tennessee—The U.S. hotel industry recorded mostly positive results in the three key performance metrics during August 2016, according to data from STR.

Compared with August 2015, the U.S. hotel industry’s occupancy was nearly flat (-0.4% to 70.2%). However, average daily rate for the month increased 2.5% to US$125.42, and revenue per available room grew 2.1% to US$88.10.

“The slowdown continued in August with the second-lowest RevPAR growth figure of the year,” said Jan Freitag, STR’s senior VP for lodging insights. “With year-to-date supply growth (+1.5%) ahead of demand (+1.3%), ADR is the sole driver of RevPAR, and the 2.5% ADR increase matched May for the lowest this year.

“On the bright side, we sold more roomnights than any other August on record, and ADR and RevPAR are still at all-time highs,” Freitag said. “RevPAR has now grown year over year for 78 consecutive months, and even with muted expectations, we don’t anticipate that changing anytime soon.”

Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, posted the largest year-over-year increase in occupancy (+5.2% to 76.7%) as well as the only double-digit increases in ADR (+11.3% to US$132.68) and RevPAR (+17.1% to US$101.71).

The next highest RevPAR increases were reported in Tampa/St. Petersburg, Florida (+8.4% to US$70.15); Los Angeles/Long Beach, California (+7.4% to US$165.14); Nashville, Tennessee (+7.2% to US$95.78); and Detroit, Michigan (+7.0% to US$73.19).

In absolute values, San Francisco/San Mateo, California, reported the highest occupancy level (89.3%).

Oahu Island, Hawaii, recorded the highest ADR (US$243.51) and RevPAR (US$211.63).

Houston, Texas, reported the largest declines in occupancy (-8.8% to 59.7%) and RevPAR (-12.7% to US$58.46).

New Orleans, Louisiana, reported the largest drop in ADR (-6.2% to US$106.29) and the second-largest RevPAR decrease for the month (-9.0% to US$60.62).

“The top markets (RevPAR +2.0%) performed pretty closely to all other markets (RevPAR +2.1%),” Freitag said. “The bad news continued for Houston with a significant supply and demand imbalance. We also saw supply growth affect RevPAR performance in markets like New York and Miami.”

View the U.S. monthly report for August here.

Media Contacts:

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

Nick Minerd
Public Relations Manager
nminerd@str.com
+1 (615) 824-8664 ext. 3305

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

2 Comments

  • Caelii December 24, 2016 1:41 PM Reply

    You make thnigs so clear. Thanks for taking the time!

  • Caelii December 24, 2016 1:41 PM Reply

    You make thnigs so clear. Thanks for taking the time!

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.