by Calculated Risk on 10/22/2017 09:53:00 AM
Sunday, October 22, 2017
Hotel Occupancy Rate increases YoY, Just behind Record Year
From HotelNewsNow.com: STR: US hotel results for week ending 14 October
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 8-14 October 2017, according to data from STR.The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
In comparison with the week of 9-15 October 2016, the industry recorded the following:
• Occupancy: +2.4% to 72.3%
• Average daily rate (ADR): +5.3% to US$130.83
• Revenue per available room (RevPAR): +7.8% to US$94.58
STR analysts note that U.S. performance growth was lifted due to a comparison with a Jewish holiday time period last year.
Among the Top 25 Markets, Houston, Texas, reported the largest year-over-year increases in occupancy (+37.3% to 85.2%) and RevPAR (+57.0% to US$99.76).
emphasis added
Currently the occupancy rate, to date, is ahead of last year, and just behind the record year in 2015. The hurricanes might push the annual occupancy rate to a new record.
Data Source: STR, Courtesy of HotelNewsNow.com