HENDERSONVILLE, Tennessee—The economy segment and the upscale segment reported the largest occupancy increases for the week ending 7 August 2010, according to data from STR.
The economy segment rose 8.3% to 65.0% in occupancy, reporting the largest increase in that metric, and the upscale segment rose 7.4% increase to 74.6%. All seven chain-scale segments ended the week with occupancy increases.
Overall, the industry’s occupancy increased 6.7% to 70.2%, average daily rate rose 1.6% to US$99.13, and revenue per available room increased 8.4% to US$69.57.
“Several significant increases in group occupancy helped performance this week,” said Steve Hood, senior VP at STR. “Oahu Island, Hawaii; Houston, Texas; Anaheim-Santa Ana, California; Seattle Washington; and San Diego, California, were among the markets to report big bumps in group occupancy for the week due to an increase in convention/conference activity. It will be interesting to see if this trend continues throughout the month of August.”
Among the chain-scale segments, the luxury segment was the only one to report an ADR increase of more than 5%, rising 7.8% to US$234.92.
The economy segment fell 2.3% in ADR to US$55.13, reporting the only decrease in any of the three performance metrics among the chain-scale segments.
The luxury segment also achieved the largest RevPAR increase, rising 9.7% to US$169.70, followed by the upper-upscale segment (+9.6% to US$105.30) and the upscale segment (+9.2% to US$80.14).
All top 25 markets reported occupancy and RevPAR increases for the week.
Detroit, Michigan, achieved the largest occupancy increase, rising 26.1% to 69.1%. Three other top markets posted occupancy increases of more than 15%: Norfolk-Virginia Beach, Virginia (+17.0% to 87.5%); Tampa-St. Petersburg, Florida (+15.6% to 62.4%); and Chicago, Illinois (+15.5% to 78.9%).
New York, New York, experienced the only double-digit ADR increase, rising 12.4% to US$215.63, followed by Boston, Massachusetts (+6.6% to US$137.34), and San Francisco/San Mateo (+6.5% to US$143.51). Nashville, Tennessee, reported the largest ADR decrease, falling 5.3% to US$80.45.
Detroit increased 22.8% in RevPAR to US$52.08, reporting the largest increase in that metric, followed by Chicago (+20.3% to US$91.13) and Anaheim-Santa Ana, California (+19.9%to US$110.17).
Source: STR
Source: STR
