STR Releases Preliminary Year-End Data for US Hotel Industry

STR's preliminary year-end data indicates that the U.S. hotel industry will finish 2012 by posting strong performances in all major metrics.

Based on STR data through November 2012, preliminary year-end results for the U.S. hotel industry include:

- Increases in supply (0.5%) and demand (2.8%);
- a 2.3% increase in occupancy to 61.3%;
- a 4.3% rise in average daily rate to US$106.17; and
- a 6.6% jump in revenue per available room to $65.08.

"The data indicates 2012 will finish as a solid year for the U.S. hotel industry," said Amanda Hite, STR's president. "The industry has experienced back-to-back years of record demand, which, coupled with limited supply growth, has fueled the increases in the other measurement categories. It's been near ideal conditions for the industry to finally put the recession in the rearview mirror."

STR's COO Brad Garner said the preliminary year-end results aren't a big surprise for most industry observers.

"The numbers are in line with the forecasts we've been issuing for most of the year, which shows the stability the industry has established," he said. "Industry operators have benefitted from another year of increased demand, and in many cases, have been able to adjust their pricing models accordingly. It hasn't been an easy climb back from the depths of 2009 and 2010, but it appears that U.S. hoteliers are in the midst of experiencing a nice run. Of course, performance varies market to market, but overall it looks as though 2012 will finish as a good one for U.S. hoteliers."

STR's latest forecast was issued at its Hotel Data Conference in September and included a 0.5% increase in supply, a 2.6% increase in demand, a 2.1% increase in occupancy, a 4.4% increase in ADR and a 6.5% increase in RevPAR.

STR is expected to release final year-end 2012 results, revised 2013 forecasts and the company's initial 2014 forecasts in mid-January.

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