HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in all three key performance metrics during the week of 17-23 October 2010, according to data from STR.
In year-over-year comparisons, occupancy increased 8.1 percent to 63.8 percent, average daily rate was up 0.9 percent to US$101.09, and revenue per available room ended the week up 9.1 percent to US$64.46.
Among the Top 25 Markets, Minneapolis-St. Paul, Minnesota-Wisconsin, achieved the largest occupancy increase, rising 19.2 percent to 72.5 percent, followed by Denver, Colorado (+18.8 percent to 71.7 percent), and Detroit, Michigan (+18.1 percent to 60.6 percent).
Philadelphia, Pennsylvania-New Jersey, reported the largest decreases in all three key performance metrics. The Philadelphia Phillies hosted three playoff games for the National League Championship Series during the comparable week in 2009. The market’s occupancy fell 6.2 percent to 71.5 percent, ADR was down 12.5 percent to US$112.76, and RevPAR dropped 17.9 percent to US$80.64.
New York, New York, experienced the largest ADR increase, rising 8.8 percent to US$278.60, followed by Boston, Massachusetts, with a 7.7-percent increase to US$168.50.
Three markets reported RevPAR increases of more than 20 percent: Minneapolis-St. Paul (+25.0 percent to US$72.43); Denver, Colorado (+24.2 percent to US$75.39); and Tampa-St. Petersburg, Florida (+20.3 percent to US$53.08).
View U.S. hotel review for week ending 23 October.
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STR provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.str.com.
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