HENDERSONVILLE, Tennessee—The U.S. hotel industry posted declines in three key performance measurements during the week of March 1-7, 2009, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 14.9 percent to end the week at 52.8 percent. Average daily rate dropped 9.6 percent to finish the week at US$98.76. Revenue per available room for the week decreased 23.0 percent to finish at US$52.18.
Among the Top 25 Markets, the only market to increase in all three key performance measurements was Norfolk-Virginia Beach, Virginia. That market’s occupancy increased 1.3 percent to 48.8 percent, ADR increased 2.9 percent to US$78.55, and RevPAR was up 4.2 percent to US$38.33.
All of the remaining Top 25 Markets experienced occupancy declines, as Detroit, Michigan, and New Orleans, Louisiana, reported decreases in occupancy of more than 25 percent. Detroit fell 28.0 percent to 43.8 percent and New Orleans dropped 28.2 percent to 56.9 percent. Oahu Island, Hawaii, was the only market to report a single-digit decrease in occupancy, down 3.9 percent to 73.3 percent.
Three of the Top 25 Markets reported ADR decreases of less than 5 percent: Nashville, Tennessee (-4.2 percent to US$96.49); St. Louis, Missouri-Illinois (-4.0 percent to US$83.11); and Houston, Texas (-0.9 percent to US$99.57). San Francisco/San Mateo, California, and New York, New York, reported the largest decreases in ADR for the month, ending down 22.7 percent to US$148.77 and down 22.4 percent to US$189.44, respectively.
Among the results for RevPAR, three of the Top 25 Markets reported decreases of less than 20 percent. Oahu Island dropped 16.9 percent to US$108.88. Houston fell 15.3 percent to US$62.52. Decreasing 14.9 percent, St. Louis ended the week at US$42.63.
View Hotel Review for week ending 7 March 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.
Media contacts:
Jeff Higley
Director of Communications/Editorial Director, Digital Media
jeff@smithtravelresearch.com
+1 (615) 824-8664 ext. 3318
Rachael Spann
Communications Coordinator
spann@smithtravelresearch.com
+1 (615) 824-8664 ext. 3305
