Positive YOY Results for US Hotel Industry for Week Ending June 1st – 2019
U.S. hotel occupancy rose 0.6% to 64.5% during the week of 26 May through 1 June, while ADR increased 1% to $124.16 and RevPAR rose 1.6% to $80.10.
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 26 May through 1 June 2019, according to data from STR.
In comparison with the week of 27 May through 2 June 2018, the industry recorded the following:
• Occupancy: +0.6% to 64.5%
• Average daily rate (ADR): +1.0% to US$124.16
• Revenue per available room (RevPAR): +1.6% to US$80.10
Among the Top 25 Markets, Boston, Massachusetts, reported the largest increase in RevPAR (+18.1% to US$156.14), due primarily to the only double-digit lift in ADR (+11.3% to US$207.20). The market saw the second-highest jump in occupancy (+6.1% to 75.4%).
Tampa/St. Petersburg, Florida, experienced the only double-digit rise in occupancy (+15.6% to 68.8%) and the second-largest increase in RevPAR (+17.3% to US$82.26).
Overall, 13 of the Top 25 Markets posted an increase in RevPAR.
New Orleans, Louisiana, reported the steepest decline in RevPAR (-15.8% to US$78.52).
Philadelphia, Pennsylvania-New Jersey, saw the only double-digit decrease in ADR (-10.0% to US$130.67), which resulted in the second-largest drop in RevPAR (-15.5% to US$90.40).
Minneapolis/St. Paul, Minnesota-Wisconsin, registered the steepest decline in occupancy (-9.7% to 57.8%).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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June 6, 2019 at 09:13AM