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US Hotel Industry Performance for Q3 2009

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According to the latest data from STR, the U.S. hotel industry reported decreases in all three key metrics for third quarter 2009 in year-on-year measurements.

Year-on-year, the industry’s occupancy dropped 7.9% to 60.5%, ADR fell 9.8% to US$96.84, and RevPAR decreased 16.9% to US$58.61.

Year-to-date 2009, the industry’s occupancy fell 9.9% to 56.6%, ADR dropped 9.1% to US$98.01, and RevPAR decreased 18.1% to US$55.48.

“Third quarter U.S. lodging industry performance improved marginally from the first two quarters of 2009, but remained weak,” said Bobby Bowers, senior vice president at STR. “The industry has now experienced five consecutive quarterly RevPAR declines and eight consecutive quarterly occupancy declines. Fourth quarter comparables will be much easier, but we still expect negative industry RevPAR movement for the remainder of 2009 and most of 2010.”

Among the top 25 markets, only Oahu Island, Hawaii, came in virtually flat in occupancy for the third quarter, down 0.4% to 77%. Five top markets experienced double-digit occupancy decreases: Houston, Texas (-19.4% to 52.3%); Detroit, Michigan (-15.2% to 52.3%); Dallas, Texas (-14.9% to 52.0%); Phoenix, Arizona (-12.0% to 44.8%); and New Orleans, Louisiana (-11.3% to 51.6%).

Norfolk-Virginia Beach, Virginia, posted the smallest decrease in ADR, which was down 5% to US$99.03. New York reported the largest ADR decrease, falling 25.4% to US$205.75. Denver, Colorado, also experienced an ADR decrease of more than 20%, falling 21.3% to US$90.72.

Norfolk-Virginia Beach was the only top market to report a single-digit RevPAR decrease for the quarter, falling 8% to US$64.68. Detroit (-28.6% to US$61.64) and Houston (-28.6% to US$45.37) experienced the largest RevPAR decreases, followed by New York with a 28.5% decrease to US$170.80.

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