by Calculated Risk on 4/17/2014 01:12:00 PM
Thursday, April 17, 2014
Hotels: Strongest Year since 2000
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.
emphasis added
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.
![Hotel Occupancy Rate](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi_Sa3xTx8bONp-bwe9aGZjJ0f9lZi6pVSzpoksmKqa83YM5swXlnQs_XEvPOD460ArajVX3AGhR8mVCrvO2LQ1ycbfKjCv6oyCWHNgK1rGjrc6YBepsgoJdJRJVQndUlmZOLyG/s320/HotelApr172014.jpg)
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