US hotels report strong weekly RevPAR
17 APRIL 2014 7:15 AM
All of the seven chain-scale segments achieved double-digit RevPAR growth during the week ending 12 April, according to STR.
HENDERSONVILLE, Tennessee—The U.S. hotel industry posted positive results in the three key performance measurements during the week of 6-12 April 2014, according to data from STR.
In year-over-year measurements, the industry’s revenue per available room jumped 12.8% to $80.09. Occupancy for the week increased 7.1% to 68.5%. Average daily rate rose 5.3% to finish the week at $116.85.
Among the chain-scale segments, the midscale segment reported the largest occupancy growth, rising 8% to 61%, followed by the upper-midscale segment with a 7.8% increase to 70.6%.
The luxury segment (+5.8% to $310.01) and the upscale segment (+5.8% to $129.57) ended the week with the largest ADR increases.
All of the seven chain-scale segments achieved double-digit RevPAR growth. The independent segment (+13.5% to $71.60) and the midscale segment (+13.4% to $48.32) reported the largest growth in that metric.
Among the top 25 markets, San Diego rose 19% in occupancy to 81.4%, reporting the largest growth in that metric. Seattle followed with a 16.3% increase to 72.1%. Minneapolis/St. Paul (-4.7% to 67.8%) and Oahu Island, Hawaii (-3.1% to 75.6%) posted the only occupancy decreases for the week.
Nashville, Tennessee, achieved the largest ADR increase, rising 19.1% to $124.17, followed by Dallas (+14.6% to $108.50) and Miami/Hialeah (+14.2% to $209.66). Atlanta fell 6.6% in ADR to $96.37, posting the largest decrease in that metric.
Seven markets experienced RevPAR increases of more than 25%: Nashville (+35.1% to $99.58); San Diego (+33.3% to $118.64); Orlando, Florida (+29% to $99.86); Dallas (+27.2% to $83.29); St. Louis (+26.7% to $76.72); Tampa/St. Petersburg, Florida (+26.6% to $97.25); and Seattle (+25.2% to $86.82). Minneapolis/St. Paul ended the week with the only RevPAR decrease, falling 1.1% to $71.18.