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US Hotels Report Continued Growth in 2012

Travel News Asia Latest Travel News Podcasts Videos Wednesday, 23 January 2013
 

According to data from STR, the U.S. hotel industry reported growth in all three key performance metrics in 2012.

Overall, the U.S. hotel industry's occupancy increased 2.5% to 61.4%, ADR was up 4.2% to US$106.10 and RevPAR grew 6.8% to US$65.17.

"Fiscal cliffs, hurricanes, elections and, at times, a sense of overwhelming uncertainty did not deter positive 2012 year-end performance results," said Brad Garner, STR's COO. "Annualized room nights sold increased by 3.0% in 2012, and outpaced the 2007 previous peak levels by 60 million rooms (1.09 billion rooms in 2012 versus 1.03 billion in 2007). Room rates for hotels increased by over 4.0%, pushing industry-wide RevPAR by almost 7.0%. The industry was also unencumbered by supply growth of 0.5%. While the industry's resolve will continue to be tested with pockets of uncertainty, we anticipate continued growth in all industry performance metrics for 2013."

Among the Top 25 Markets, Houston, Texas, reported the largest occupancy increase, rising 9.4% to 65.4%, followed by Nashville, Tennessee (+5.8% to 65.6%), and New Orleans, Louisiana (+5.5% to 67.6%). Phoenix, Arizona, reported the only decrease, down 0.4% to 57.7%.

Oahu Island, Hawaii (+11.2% to US$183.51), and San Francisco/San Mateo, California (+10.8% to US$171.72), achieved the largest ADR increases for the year.

Seven markets experienced RevPAR growth of 10% or more: Oahu Island (+16.7% to US$155.37); New Orleans (+14.6% to US$89.81); Houston (+13.8% to US$61.63); San Francisco/San Mateo (+12.8% to US$137.99); Tampa-St. Petersburg, Florida (+11.5% to US$63.13); Los Angeles-Long Beach, California (+11.0% to US$98.11); and Chicago, Illinois (+10.0% to US$83.50).

Washington, D.C., posted the only ADR (-0.7% to US$143.84) and RevPAR (-0.5% to US$97.09) decreases for the year.

US Hotel Performance for December 2012

Overall, the U.S. hotel industry's occupancy rose 3.2% to 49.1% in December 2012, ADR was up 4.3% to US$104.43 and RevPAR room increased 7.7% to US$51.22.

Among the Top 25 Markets, Atlanta, Georgia, reported the largest occupancy increase, rising 10.0% to 51.3%, followed by Dallas, Texas (+9.9% to 52.4%), and Seattle, Washington (+9.7% to 55.7%). San Diego, California (-4.9% to 55.0%), and New Orleans, Louisiana (-4.1% to 53.6%) posted the largest occupancy declines.

Three markets experienced double-digit ADR increases: Atlanta (+13.0% to US$85.07); Oahu Island, Hawaii (+12.6% to US$205.89); and Miami-Hialeah, Florida (+12.5% to US$197.93). San Diego reported the only ADR decrease, falling 7.5% to US$107.42.

Three markets achieved RevPAR growth of more than 15%: Atlanta (+24.4% to US$43.68); Miami-Hialeah (+19.1% to US$148.71); and Seattle (+16.3% to US$60.52). San Diego posted the only double-digit decrease in RevPAR, falling 12.0% to US$59.07.

ATF, Vientiane, Laos, STR

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