HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in all three key performance metrics for third-quarter 2011 in year-over-year measurements, according to data from STR.
The industry’s occupancy increased 4.0 percent to 66.5 percent, average daily rate rose 3.8 percent to US$102.96, and revenue per available room was up 7.9 percent to US$68.44.
“Third-quarter industry performance continued at a good pace,” said Bobby Bowers, senior VP of operations for STR. “RevPAR growth slowed slightly from the first half, but the prior-year comparable was difficult. Absolute RevPAR hit (US)$68.44—the best quarterly performance since third-quarter 2008. ADR growth ticked up slightly in the quarter, and room demand continued at a healthy pace.
“As we move into the final quarter of 2011, we expect a continuation of these trends and project full-year industry RevPAR growth around 7.5 percent,” Bowers added.
Among the Top 25 Markets, Tampa-St. Petersburg, Florida, reported the largest occupancy increase, rising 12.5 percent to 57.4 percent, followed by Miami-Hialeah, Florida, with an 11.7-percent increase to 72.2 percent. New Orleans, Louisiana, fell 7.4 percent in occupancy, reporting the largest decrease in that metric.
San Francisco/San Mateo, California, experienced the largest ADR increase, rising 13.6 percent to US$162.33, followed by Nashville, Tennessee (+10.8 percent to US$92.32), and Miami-Hialeah (+10.7 percent to US$123.99). Washington, D.C., ended the quarter virtually flat in ADR, with a 0.4-percent decrease to US$134.72. The market reported the only ADR decrease among the top markets.
Four markets achieved RevPAR increases of more than 15 percent: Miami-Hialeah (+23.6 percent to US$89.50); Nashville (+18.8 percent to US$61.27); San Francisco/San Mateo (+18.0 percent to US$144.87); and Tampa-St. Petersburg (+16.5 percent to US$50.10). New Orleans fell 5.0 percent in RevPAR to US$57.77, reporting the largest decrease in that metric.
Media contacts:
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Director, Public Relations
rurie@str.com
+1 (615) 824-8664 ext. 3305
