by Calculated Risk on 12/10/2017 10:59:00 AM
Sunday, December 10, 2017
From HotelNewsNow.com: STR: US hotel results for week ending 2 December
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 26 November through 2 December 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 27 November through 3 December 2016, the industry recorded the following:
• Occupancy: +1.3% to 56.6%
• Average daily rate (ADR): +0.2% to US$117.82
• Revenue per available room (RevPAR): +1.5% to US$66.71
Among the Top 25 Markets, Houston, Texas, reported the largest increase in RevPAR (+33.1% to US$74.18), due primarily to the highest rise in occupancy (+25.5% to 68.6%). Performance in the market continues to be boosted by post-Hurricane Harvey demand.
Tampa/St. Petersburg, Florida, posted the highest lift in ADR (+7.9% to US$113.10).
Orlando, Florida, experienced the second-highest increases in occupancy (+9.6% to 72.2%) and RevPAR (+15.7% to US$83.65).
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 12/10/2017 10:59:00 AM