STR: US results for year-end 2015, Q4 2015
22 JANUARY 2016 7:07 AM
Compared with 2014, the U.S. hotel industry’s occupancy was up 1.7% to 65.6%; its ADR rose 4.4% to $120.01; and its RevPAR increased 6.3% to $78.67.
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive results in the three key performance metrics during 2015, according to data from STR, Inc.
Compared with 2014, the U.S. hotel industry’s occupancy was up 1.7% to 65.6%; its average daily rate rose 4.4% to US$120.01; and its revenue per available room increased 6.3% to US$78.67.
The absolute values in the three key performance metrics were each the highest STR has ever benchmarked. The U.S. hotel industry also set records for supply (more than 1.8 billion roomnights) and demand (almost 1.2 billion roomnights). In terms of percentage growth for the year, demand (+2.9%) outpaced supply (+1.1%).
“This past year was the strongest on record for the U.S. hotel industry,” said Amanda Hite, STR’s president and COO. “With the number of rooms sold nearing 1.2 billion, all-time highs were recorded across the key performance indicators. And while we expect demand growth to slow, we are forecasting another record year for the industry in 2016.”
Among the Top 25 Markets, Tampa/St. Petersburg, Florida, reported the largest increases in occupancy (+5.6% to 71.8%) and RevPAR (+13.8% to US$82.28). ADR in the market was up 7.7% to US$114.56.
Three additional markets experienced double-digit growth in RevPAR: Phoenix, Arizona (+12.8% to US$79.77); Nashville, Tennessee (+11.1% to US$93.11); and Dallas, Texas (+10.0% to US$69.81).
Only two markets reported a decrease in RevPAR for the year: Houston, Texas (-3.3% to US$74.42), and New York, New York (-1.7% to US$219.39).
Nashville posted the largest rise in ADR for the year, up 8.7% to US$126.67. Phoenix followed in ADR percentage change with an 8.0% increase to US$121.09.
New York was the only Top 25 Market to report a drop in ADR, down 1.6% to US$259.11.
Houston was the only market to see occupancy fall in year-over-year comparisons, down 4.8% to 68.5%.
Three markets reported absolute occupancy above 80.0% for the year: Oahu Island, Hawaii (85.3%); New York (84.7%) and San Francisco/San Mateo, California (+84.4%).
Absolute ADR and RevPAR in New York were the highest for any of the Top 25 Markets in 2015.
During the fourth quarter of 2015, the U.S. hotel industry reported positive results in the three key performance metrics.
In year-over-year measurements, the U.S. hotel industry saw an increase in occupancy of 1.2% to 60.5%. ADR was up 3.6% to US$118.88, and RevPAR increased 4.8% to US$71.95.
Among the Top 25 Markets, Tampa/St. Petersburg reported the largest increases in occupancy (+7.4% to 67.2%) and RevPAR (+15.9% to US$71.20).
Houston reported the largest decreases in occupancy (-5.7% to 64.3%) and RevPAR (-5.9% to US$68.40).
Following Tampa/St. Petersburg, two additional markets saw a double-digit rise in RevPAR for the quarter: Dallas (+12.7% to US$67.93) and Minneapolis/St. Paul, Minnesota-Wisconsin (+12.6% to US$70.54).
Dallas also reported the largest increase in ADR, up 8.0% to US$100.69.
New York saw the largest dip in ADR, down 2.3% to US$288.70.
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