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Tue, 22 Aug 2017

Hotels in U.S. Report July 2017 Increase in ADR and RevPAR

According to data compiled by STR, the U.S. hotel industry reported mixed results in the three key performance metrics for July 2017.

In a year-on-year comparison with July 2016, the industry reported a -0.5% decline in Occupancy to 73.8%, an increase of 1.4% to US$130.85 in ADR, and a rise in RevPAR of 0.8% to US$96.62.

“July is historically the peak month for hotel demand in the country, and for this July, the industry sold more roomnights than any other month on record,” said Jan Freitag, STR’s senior VP for lodging insights. “However, supply growth remaining close to 2% and a further diminishment of pricing confidence led to the lowest RevPAR growth figure in the U.S. since our last decrease all the way back in February 2010.”

Impressive lobby of the Aloft Detroit at The David Whitney. Click to enlarge.

Among the Top 25 Markets, Detroit, Michigan, posted the largest year-on-year increase in RevPAR (up 7.4% to US$72.39), due primarily to the month’s largest rise in ADR (+5.9% to US$100.68). Occupancy in the market rose 1.5% to 71.9%.

The next highest increases in RevPAR were reported in Washington, D.C.-Maryland-Virginia (+5.0% to US$113.49); Miami/Hialeah, Florida (+4.6% to US$128.68); and San Diego, California (+4.3% to US$178.33).

RevPAR growth in Miami was driven by the month’s largest increase in occupancy (+3.7% to 80.9%).

Due to a comparison with the month of the 2016 Democratic National Convention, Philadelphia, Pennsylvania-New Jersey, reported the steepest declines across the three key performance metrics. Occupancy fell 6.7% to 73.2%, ADR was down 21.5% to US$124.10 and RevPAR dropped 26.8% to US$90.80.

“Group occupancy was down 6.1% nationally, and Philadelphia and Cleveland had a lot to do with that due to the national convention comparison,” Freitag said.

No other double-digit decreases were reported among the major markets.

Chicago, Illinois, reported the second-largest decreases in ADR (-5.5% to US$142.69) and RevPAR (-9.3% to US$112.32).

Nashville, Tennessee, saw the second-largest decline in occupancy (-6.0% to 76.4%).

“Year to date, 19 of the Top 25 Markets showed supply growth at or above the long-term U.S. average (+1.8%),” Freitag said. “With demand growth not keeping up in a lot of those markets, we expect occupancy declines to continue. But ADR growth, although muted, will keep RevPAR positive.”

See other recent news regarding: STR, ADR, RevPAR.

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