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Hotels in U.S. Report Q1 2015 OR, ADR and RevPAR Increases; Phoenix Shines

Travel News Asia Latest Travel News Podcasts Videos Monday, 4 May 2015
 

According to data compiled from STR, the U.S. hotel industry reported positive results in the three key performance metrics for the first quarter of 2015.

In year-on-year results, occupancy was up 3.1% to 61.1%; ADR rose 4.7% to US$117.09; and RevPAR increased 8.0% to US$71.56.

In addition, industry demand increased 4.2% during the first quarter, while supply was up 1.0%.

“The U.S. hotel industry started the year strong,” said Bobby Bowers, STR’s senior VP for operations. “The 8.0% increase in RevPAR was the industry’s best first-quarter RevPAR growth rate since 2011. However, that RevPAR growth was still lower than the numbers achieved in the previous three quarters (2014). March trailing 12-month industry occupancy also reached 64.9% - that tied a record last achieved in the fall of 1995. We anticipate annualized industry occupancy will reach an all-time high later this year as room demand and revenue growth continues.”

Of the Top 25 Markets, eight reported double-digit RevPAR growth, led by Phoenix, Arizona (+23.0% to US$128.61), host city to Super Bowl XLIX on 1 February 2015. Tampa/St. Petersburg, Florida (+15.8% to US$103.56) and San Francisco/San Mateo, California (+14.5% to US$164.01) followed in RevPAR increases for the first quarter.

Three markets experienced a decrease in RevPAR, with New York, New York (-4.3% to US$153.63) reporting the steepest decline. New York City hosted the Super Bowl in February 2014, creating comparisons difficult to match for the first quarter of 2015.

Phoenix also reported the largest ADR increase, up 16.3% to US$160.03. San Francisco/San Mateo (+11.7% to US$208.26) was the other market to experience a double-digit rise in ADR.

New York (-4.1% to US$204.18) and New Orleans, Louisiana (-0.5% to US$158.45) were the only markets to report ADR decreases.

Boston, Massachusetts (+6.1% to 65.0%) posted the largest occupancy increase, while Philadelphia, Pennsylvania-New Jersey (-4.3% to 59.5%) reported the largest occupancy decrease.

STR, ADR, RevPAR, Phoenix

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