by Bill McBride on 6/05/2015 01:41:00 PM
Friday, June 05, 2015
From HotelNewsNow.com: STR: US results for week ending 30 May
The U.S. hotel industry recorded positive results in the three key performance measurements during the week of 24-30 May 2015, according to data from STR, Inc.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
In year-over-year measurements, the industry’s occupancy increased 2.2 percent to 63.5 percent. Average daily rate increased 4.7 percent to finish the week at US$114.73. Revenue per available room for the week was up 7.0 percent to finish at US$72.83.
Click on graph for larger image.
The red line is for 2015, dashed orange is 2014, blue is the median, and black is for 2009 - the worst year since the Great Depression for hotels. Purple is for 2000.
The 4-week average of the occupancy rate is solidly above the median for 2000-2007, and solidly above last year.
Right now 2015 is slightly above 2000 (best year for hotels) - and 2015 will probably be the best year on record for hotels.
This strong occupancy and RevPAR performance is why investment in hotels has started picking up. In the recent construction spending report, spending on hotels was up 20% year-over-year.
Data Source: Smith Travel Research, Courtesy of HotelNewsNow.com
Posted by Bill McBride on 6/05/2015 01:41:00 PM