The WPJ
Vacation Real Estate News
STR Reports U.S. Hotel Performance
(News Source: Smith Travel Research)
(HENDERSONVILLE, TN) -- The U.S. hotel industry posted declines in all three key performance measurements during the week of 9-15 August 2009, according to data from STR.
In year-over-year measurements, the industry's occupancy fell 6.9 percent to end the week at 63.9 percent. Average daily rate dropped 9.9 percent to finish the week at US$96.70. Revenue per available room for the week decreased 16.2 percent to finish at US$61.80.
Other highlights from the Top 25 Markets include (in year-over-year comparisons):
- St. Louis, Missouri-Illinois, reported the largest occupancy increase, up 1.6 percent to 64.3 percent. Five other markets reported increases in occupancy: Minneapolis-St. Paul, Minnesota-Wisconsin (+1.2 percent to 77.7 percent); Seattle, Washington (+0.7 percent to 85.2 percent); San Francisco/San Mateo, California (+0.5 percent to 88.4 percent); Oahu Island, Hawaii (+0.3 percent to 85.9 percent); and Washington, D.C. (+0.3 percent to 69.1 percent).
- New Orleans, Louisiana, experienced the largest drop in occupancy, falling 22.8 percent to 49.8 percent.
- Washington, D.C., posted the smallest ADR decline, down 5.0 percent to US$122.29. Two other markets experienced decreases of less than six percent: Nashville, Tennessee (-5.7 percent to US$87.83) and St. Louis (-5.4 percent to US$82.23).
- New York, New York, reported the largest ADR decrease, falling 27.6 percent to US$186.47, followed by Anaheim-Santa Ana, California (-22.1 percent to US$107.35) and Denver, Colorado (-21.5 percent to US$88.68).
- Four markets experienced single-digit RevPAR decreases: Tampa-St. Petersburg, Florida (-9.5 percent to US$43.77); Minneapolis-St. Paul (-5.3 percent to US$76.23); Washington, D.C. (-4.7 percent to US$84.50); and St. Louis (-3.9 percent to US$52.91).
- Six markets reported RevPAR decreases of more than 25 percent: New York (-30.2 percent to US$158.99); Denver (-30.1 percent to US$61.12); Los Angeles-Long Beach, California (-29.2 percent to US$83.07); New Orleans (-29.0 percent to US$42.56); Anaheim-Santa Ana (-28.6 percent to US$81.14); and Houston, Texas (-26.4 percent to US$45.00).
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