by Calculated Risk on 11/30/2017 11:49:00 AM
Thursday, November 30, 2017
From HotelNewsNow.com: STR: US hotel results for week ending 25 November
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 19-25 November 2017, according to data from STR.Note: The hurricanes continue to drive demand in Texas and Florida, especially in Houston.
In comparison with the week of 20-26 November 2016, the industry recorded the following:
• Occupancy: +1.4% to 51.4%
• Average daily rate (ADR): +2.0% to US$109.99
• Revenue per available room (RevPAR): +3.4% to US$56.52
Among the Top 25 Markets, Houston, Texas, reported the largest increase in all three key performance metrics: occupancy (+32.8% to 56.0%), ADR (+16.0% to US$92.58) and RevPAR (+54.1% to US$51.86).
The following graph shows the seasonal pattern for the hotel occupancy rate using the four week average.
The red line is for 2017, dash light blue is 2016, dashed orange is 2015 (best year on record), blue is the median, and black is for 2009 (the worst year since the Great Depression for hotels).
Currently the occupancy rate, to date, is ahead of the record year in 2015. The hurricanes will push the annual occupancy rate to a new record in 2017.
Data Source: STR, Courtesy of HotelNewsNow.com
Posted by Calculated Risk on 11/30/2017 11:49:00 AM