According to data from STR, the U.S. hotel
industry finished June 2011 with the highest RevPAR since August 2008.
In June, the industry reported a
7.8% increase in RevPAR to US$68.90. The RevPAR in August
2008 was US$72.14.
Overall occupancy rates for the United States hotel
industry increased 4.2% to 67.6% and ADR ended the month up 3.5%
"The hotel industry's performance
improvements during the first half of 2011 have been steady, and
we have no reason to believe the second half of the year won't
continue on the same track," said Amanda Hite, STR's president.
"Demand continues to be at peak levels and supply increases are
minimal. High fuel costs have tapered and the summer travel season
likely will prove to be a profitable, busy time for hoteliers. As
ADR growth begins to gain more momentum, we expect the confidence
of hotel owners and operators to also rise."
Chain Scale segments, the Luxury segment experienced the largest
increases in all three key performance metrics. Occupancy rose
5.7% to 74.3%, ADR rose 6.6% to US$248.52, and RevPAR
increased 12.7% to US$184.66.
The Midscale segment was the
only segment to report a decrease in any of the three key
performance metrics. The segment's ADR fell 1.2% to US$75.22.
Among the Top 25 Markets, Dallas, Texas, reported the largest
occupancy increase, rising 13.7% to 66.4%. Three other top markets posted double-digit occupancy increases: Miami-Hialeah, Florida
(+11% to 70.9%); Tampa-St. Petersburg, Florida (+10.8% to
60.4%); and Detroit, Michigan (+10.6% to 66.3%). New York ended the month virtually flat with a 0.9% decrease
None of the Top 25 Markets reported ADR or RevPAR
San Francisco/San Mateo, California, achieved
the largest ADR increase, rising 15% to US$149.85, followed by
Nashville, Tennessee (+10.9% to US$98.92), and Oahu Island, Hawaii
(+10.2% to US$160.77).
Six markets experienced RevPAR
increases of more than 15%: San Francisco/San Mateo (+20.5% to
US$127.31); Nashville (+19.1% to US$72.89); Miami-Hialeah (+16.9%
to US$8815); Dallas (+16.7% to US$54.94); Minneapolis-St. Paul,
Minnesota-Wisconsin (+15.2% to US$76.77); and Seattle, Washington
(+15.1% to US$97.15).
Year-to-date June 2011, the
industry's occupancy rose 5% to 59.2%, ADR increased 3.3% to
US$100.54, and RevPAR was up 8.5% to US$59.49.
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