by Calculated Risk on 11/04/2018 09:25:00 AM
Sunday, November 04, 2018
From HotelNewsNow.com: STR: US hotel results for week ending 27 October
The U.S. hotel industry reported positive year-over-year results in the three key performance metrics during the week of 21-27 October 2018, 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 22-28 October 2017, the industry recorded the following:
• Occupancy: +1.2% to 70.7%
• Average daily rate (ADR): +4.0% to US$134.39
• Revenue per available room (RevPAR): +5.2% to US$95.02
Houston, Texas, registered the steepest declines in occupancy (-18.5% to 69.9%) and RevPAR (-23.0% to US$79.01). Houston’s hotel performance was lifted in the weeks and months that followed Hurricane Harvey in 2017 as properties filled with displaced residents, relief workers, insurance adjustors, media members, etc.
Click on graph for larger image.
The red line is for 2018, dash light blue is 2017, blue is the median, and black is for 2009 (the worst year probably since the Great Depression for hotels).
This is the fourth strong year in a row for hotel occupancy. The occupancy rate, to date, is just ahead of the record year in 2017.
Seasonally, the occupancy rate will now decline through the end of the year.
Data Source: STR, Courtesy of HotelNewsNow.com
Posted by Calculated Risk on 11/04/2018 09:25:00 AM