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U.S. Hotel Industry Reports Highest RevPAR Since August 2008

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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% to US$101.95.

"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."

Among the 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 to 85.4%.

None of the Top 25 Markets reported ADR or RevPAR decreases.

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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