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
- a 2.3% increase in occupancy to 61.3%;
- a 4.3% rise in average daily rate to
- 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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