Article Summary: In November, U.S. hotel occupancy rose 0.4% to 61.7%, ADR increased 1.2% to $124.22 and RevPAR rose 1.6% to $76.69.
In November, U.S. hotel occupancy rose 0.4% to 61.7%, ADR increased 1.2% to $124.22 and RevPAR rose 1.6% to $76.69.
Primary Category: Monthly Data
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive results in the three key performance metrics during November 2018, according to data from STR.
In a year-over-year comparison with November 2017, the industry posted the following:
• Occupancy: +0.4% to 61.7%
• Average daily rate (ADR): +1.2% to US$124.22
• Revenue per available room (RevPAR): +1.6% to US$76.69
“The industry established another monthly demand record (97 million room nights sold), but the ADR growth figure was the lowest we have seen since September 2017,” said Jan Freitag, STR’s senior VP of lodging insights.
“Even though demand continued to rise, overall occupancy performance was mixed at best. Nineteen of the Top 25 Markets reported occupancy declines in the group segment. In addition, Upper Upscale, Upscale and Upper Midscale class hotels reported lower occupancy than a year ago. The industry now enters a four-month period of expected sub-62% occupancy, and that will continue to put pressure on price increases. Industrywide performance is still mostly healthy, and it will remain that way, but that lack of pricing confidence is expected to continue to produce uninspiring RevPAR growth rates.”
Among the Top 25 Markets, Boston, Massachusetts, reported the largest increases in each of the three key performance metrics: occupancy (+8.8% to 77.5%), ADR (+6.7% to US$197.26) and RevPAR (+16.1% to US$152.95).
San Diego, California, posted the second-highest lift in ADR (+6.5% to US$156.57) and the only other double-digit increase in RevPAR (+11.0% to US$115.34).
New Orleans, Louisiana, experienced the second-largest rise in occupancy (+4.9% to 70.1%).
Due to comparison with the post-Hurricane Harvey demand period of 2017, Houston, Texas, reported the only double-digit declines in occupancy (-19.2% to 59.1%) and RevPAR (-25.0% to US$60.60) as well as the largest drop in ADR (-7.2% to US$102.51).
San Francisco/San Mateo, California, reported the second-steepest declines in ADR (-4.6% to US$226.82) and RevPAR (-8.8% to US$167.10).
Washington, D.C.-Maryland-Virginia, registered the third-largest drop in RevPAR (-7.3% to US$95.02).
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Headline: STR: US hotel performance for November 2018
Article Date: 12/19/2018
Article Time: 10:37:00 AM