US Hotel Performance in February 2010

Travel News Asia Latest Travel News Podcasts Videos Wednesday, 24 March 2010

The U.S. hotel industry posted mixed results in the three key performance measurements during February 2010, according to data from STR. In year-on-year measurements, the industry's occupancy ended the month virtually flat with a 0.9% increase to 53%. ADR dropped 4.5% to finish the month at US$96.40 while RevPAR for the month decreased 3.6% to finish at US$51.09.

"February results were encouraging across the board," said Mark Lomanno, president of STR. "Hotel demand has shown a nice bounce, and room rates, while still down compared to last year, have almost stabilized. However, there is much work to be done before we can say the industry has actually begun to rebound."

Among the Chain Scale segments, three of the seven segments reported increases in occupancy. The Luxury segment increased 9.1% to 63.7%, followed by the Upper Upscale segment (+5.2% to 64.4%) and the Upscale segment (+4.3% to 62.1%). The Luxury segment was the only segment to report a RevPAR increase, rising 3.3% to US$158.90.

San Francisco/San Mateo, California, posted the largest occupancy increase, up 13.8% to 65.2%. Three other markets experienced double-digit occupancy increases: Detroit, Michigan (+11.4% to 48.2%); Seattle, Washington (+11.2% to 59.0%); and New York (+10.1% to 70.6%). Norfolk-Virginia Beach, Virginia, reported the largest occupancy decrease, falling 9.7% to 39.5%.

Miami-Hialeah, Florida, was the only market to experience an ADR increase, rising 12.1% to US$201.63. Three markets posted ADR decreases of more than 10%: Tampa-St. Petersburg, Florida (-16.8% to US$99.09); Phoenix, Arizona (-13.1% to US$120.36); and Anaheim-Santa Ana, California (-11.4% to US$102.38).

Miami-Hialeah led the RevPAR increases, rising 21.4% to US$158.45, followed by San Francisco/San Mateo with an 11.7% increase to US$81.95. Three markets experienced RevPAR decreases of more than 10%: Tampa-St. Petersburg (-16.8% to US$64.21); Houston, Texas (-15.5% to US$55.06); and Norfolk-Virginia Beach (-12.8% to US$26.42).

See recent travel news from: Travel News Asia, STR, February 2010

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