HENDERSONVILLE, Tennessee—The U.S. hotel industry posted large year-over-year increases in all three key performance measurements during the week of 16-22 November 2008, according to data from STR.
The year-over-year increases are in large part because of the date of Thanksgiving, which fell on 22 November 2007. This year, the holiday falls on 27 November.
During the week ending 22 November 2008, year-over-year measurements included a 29.9-percent increase in revenue per available room. RevPAR ended the week at US$56.29 (US$43.35 in 2007). Average daily rate jumped 10.5 percent to finish the week at US$103.55 (S$93.68 in 2007). Nationwide occupancy climbed 17.5 percent to end the period at 54.4 percent (46.3 percent in 2007).
Six of the seven chain-scale segments experienced year-over-year increases in most measurement categories for the week. While the luxury segment had a 12.9-percent decrease in ADR, its RevPAR increased 10.9 percent and its occupancy grew 27.2 percent. The two top performing chain scales were the Upper Upscale segment (+51.9 percent occupancy, +14.1 percent ADR and +73.4 percent RevPAR) and the Upscale segment (+40.1 percent occupancy, +12.5 percent ADR and +57.6 percent RevPAR). The Economy sector (-0.4 percent occupancy, -0.4 percent ADR and -0.7 percent RevPAR) was the lone segment to post decreases across the board. Other segments: Midscale with Food & Beverage (+14.4 percent occupancy, +6.4 percent ADR, +21.8 percent RevPAR); Midscale without Food & Beverage (+19.6 percent occupancy, +7.7 percent ADR, +28.8 percent RevPAR); and Independents (+6.0 percent occupancy, +4.5 percent ADR, +10.7 percent RevPAR).
View report: Weekly U.S. Lodging Report for week ending 15 November 2008
About STR & STR Global:
For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.strglobal.com.
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Jeff Higley
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jeff@smithtravelresearch.com
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