by Bill McBride on 4/17/2014 01:12:00 PM
Thursday, April 17, 2014
From HotelNewsNow.com: US hotels report strong weekly RevPAR
The U.S. hotel industry posted positive results in the three key performance measurements during the week of 6-12 April 2014, according to data from STR.Note: ADR: Average Daily Rate, RevPAR: Revenue per Available Room. These metrics are now at new highs.
In year-over-year measurements, the industry’s revenue per available room jumped 12.8% to $80.09. Occupancy for the week increased 7.1% to 68.5%. Average daily rate rose 5.3% to finish the week at $116.85.
The 4-week average of the occupancy rate is solidly above the median for 2000-2007, and is at the highest level since 2000.
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
Click on graph for larger image.
The red line is for 2014 and black is for 2009 - the worst year since the Great Depression for hotels.
Through April 12th, the 4-week average of the occupancy rate is tracking higher than pre-recession levels.
It looks like 2014 should be a good year for hotels.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com
Posted by Bill McBride on 4/17/2014 01:12:00 PM