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Thu, 19 Oct 2017

US Hotel Industry Reports Increase in ADR, OR and RevPAR

According to STR, the U.S. hotel industry reported positive results in the three key performance metrics during September 2017.

In a year-on-year comparison with September 2016, the US hotel industry reported an 1.4% increase in occupancy to 69.7%, growth of 1.0% in ADR to US$128.52, and an increase of 2.4% in RevPAR to US$89.54.

“The industry set September records for demand (more than 108 million room nights sold) and occupancy, but the lowest ADR growth figure since June 2010 limited RevPAR growth to well below the September average,” said Brad Garner, STR’s senior VP of client relationships. “Trends in the data are difficult to identify because we had the Jewish holiday calendar shift pulling performance down, while at the same time, post-hurricane demand provided a lift. It will probably be November before the trends become more identifiable.”

Swimming pool at the luxurious Four Seasons Hotel Houston, Texas. Click to enlarge.

Among the Top 25 Markets, Houston, Texas, reported the largest increase in each of the three key performance metrics: occupancy (+42.7% to 85.4%), ADR (+12.5% to US$114.39) and RevPAR (+60.5% to US$97.74).

“Houston, as expected, saw a tremendous amount of demand amid the Hurricane Harvey recovery as hotels filled up with displaced residents, media members, relief workers and insurance adjustors,” Garner said.

Three additional Top 25 Markets reported double-digit increases in RevPAR: Orlando, Florida (+24.8% to US$84.96); Tampa/St. Petersburg, Florida (+15.0% to US$74.42); and Nashville, Tennessee (+12.6% to US$120.43).

RevPAR growth in Orlando was driven by the only other double-digit increases in occupancy (+12.5% to 76.3%) and ADR (+10.9% to US$111.35).

Minneapolis/St. Paul, Minnesota-Wisconsin, reported the steepest decline in RevPAR (-16.9% to US$90.84), due primarily to the only double-digit decrease in ADR (-10.9% to US$121.59). Occupancy in the market fell 6.7% to 74.7%. The market hosted the Ryder Cup late last September into early October, creating the difficult year-on-year comparison.

Miami/Hialeah, Florida, experienced the only double-digit decrease in occupancy (-13.0% to 59.3%) and the second-largest decrease in RevPAR (-10.6% to US$85.61).

New Orleans, Louisiana, reported the second-largest decrease in ADR (-5.8% to US$128.07) and the only other double-digit drop in RevPAR (-10.4% to US$83.39).

“Miami and New Orleans were markets that saw results negatively affected from the devastating hurricanes,” Garner said. “Overall, the major markets vastly underperformed all other markets in the country with significant supply growth playing an obvious role in the equation.”

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