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U.S. Hotel Performance for March 2009

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The U.S. hotel industry posted declines in all three key performance measurements during March 2009, according to data from STR.

In year-over-year measurements, occupancy in March 2009 fell 11.6% to end the month at 55.2% (62.5% in March 2008). The average daily room rate dropped 9.6 % to finish the month at US$99.42 (US$109.97 in March 2008). RevPAR for the month decreased 20% to finish at US$54.93 (US$68.69 in March 2008).

"Performance results for March continue to show sharp drops in the key measures of occupancy and ADR," said Mark Lomanno, president of STR. "However, we have begun to believe that the industry may have bottomed out from a demand perspective. Over the past two months, the number of rooms sold has remained fairly consistent after the accelerating drops experienced beginning in September 2008 though January 2009. Knowing that the trough in the cycle has been reached gives hope that the beginnings of a modest recovery may not be far away."

During March, none of the top 25 markets in the U.S. reported increases in any of the three key performance measurements. In occupancy, only six of the markets ended the month with single-digit decreases.

Orlando, Florida, reported the largest decrease in occupancy, which was down 17.9% to 67.2%. Three other markets reported occupancy decreases of more than 15 %, including Detroit, Michigan (-17.1% to 45%); New Orleans, Louisiana (-16.8% to 62.9%); and San Diego, California (-15.6% to 61.9%). The largest decrease in ADR was reported by New York which experienced a 24.4-% drop to US$193.19. Miami-Hialeah, Florida (-18.2% to US$170.93) and Phoenix, Arizona (-15.4% to US$133.23) also reported large decreases in ADR. Six markets reported RevPAR decreases of more than 25 %: New York (-35.5% to US$135.99); Miami-Hialeah (-28.5% to US$126.80); Orlando (-27.9% to US$71.28); Detroit (-25.4% to US$35.08); San Diego (-25.4% to US$76.49); and Chicago, Illinois (-25.1% to US$55.24).

For the first quarter of 2009, the U.S. hotel industry experienced declines in all three key performance metrics when compared to first quarter 2008. Occupancy was down 10.9% to 51.4% (57.7% in 2008). ADR decreased 7.7 % to US$100.13 (US$108.46 in 2008). RevPAR dropped 17.7%, ending the quarter at US$51.44 (US$62.54 in 2008).

See other recent news regarding: Airlines, Aviation, Flights, First Class, Business Class, GDS, Miles, Hotels, Promotions, New Hotels, Visitor Arrivals, Cruises, Free Deals, STR, Statistics, March 2009

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