HENDERSONVILLE, Tennessee—The U.S. hotel industry posted declines in all three key performance metrics during the week of 25-31 January 2009, according to data from STR.
In year-over-year measurements, the overall U.S. hotel industry’s occupancy rate fell 12.6 percent to end the week at 48.0 percent (54.9 percent in the comparable week in 2008). Average daily rate dropped 7.3 percent to finish the week at US$100.29 (US$108.19 in 2008). Revenue per available room for the week decreased 19.0 percent to finish at US$48.10 (US$59.37 in 2008).
Of the Top 25 markets, Tampa-St. Petersburg, Florida was the only region to post increases in all of the three key performance measurements, as well as the only to record increases in occupancy and RevPAR. The market, which hosted Super Bowl XLIII on 1 February, benefitted from an influx of travelers that boosted occupancy by 1.9 percent (to finish at 64.0 percent), ADR by 53.4 percent (to finish at US$184.79), and RevPAR by 56.4 percent (to finish at US$118.34).
Of the remaining Top 25 markets, all but six posted double-digit declines in occupancy. The biggest drops were in New Orleans, Louisiana (-22.4 percent to 55.4 percent); Orlando, Florida (-20.0 percent to 52.7 percent); and Anaheim-Santa Ana, California (-19.5 percent to 52.5 percent).
In addition to Tampa-St. Petersburg, three other markets avoided negative declines in ADR, posting essentially flat growth: Chicago, Illinois (+0.9 percent to US$109.04); Houston, Texas (+0.6 percent to US$101.03); and Washington, D.C. (+0.1 percent to US$152.31).
The Top 25 markets had an overall bad week in RevPAR performance, as 13 of them experienced declines of more than 20 percent—including Phoenix, Arizona (-51.1 percent); New York, New York (-32.3 percent); and New Orleans (-31.8 percent).
All seven chain-scale segments were down across the board. The Luxury segment led the decline in all three of the major measurements: occupancy (-17.7 percent to 56.0 percent), ADR (-13.5 percent to US$253.17) and RevPAR (-28.8 percent to US$141.66).
View Hotel Review for week ending 31 January 2009.
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, Tennessee, and STR Global is based in London. For more information, visit www.strglobal.com.
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