STR: US Hotel Results For Week Ending 2 March

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STR: US Hotel Results For Week Ending 2 March

HENDERSONVILLE, Tennessee — The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 24 February through 2 March 2019, according to data from STR.

In comparison with the week of 25 February through 3 March 2018, the industry recorded the following:

• Occupancy: -1.0% to 65.3%
• Average daily rate (ADR): +1.3% to US$127.59
• Revenue per available room (RevPAR): +0.3% at US$83.36

Among the Top 25 Markets, New Orleans, Louisiana, reported the largest lift in RevPAR (+37.9% to US$151.37), due primarily to the largest rise in ADR (+33.1% to US$199.22). STR analysts note the year-over-year jump is due primarily to the Mardi Gras holiday calendar shift.

Chicago, Illinois, experienced the highest rise in occupancy (+5.1% to 60.1%) and the third-largest increase in RevPAR (+11.4% to US$70.03).

San Francisco/San Mateo, California, saw the only other double-digit increases in ADR (+10.6% to US$236.81) and RevPAR (+11.9% to US$187.62).

Philadelphia, Pennsylvania-New Jersey, registered the steepest declines in each of the three key performance metrics: occupancy (-10.7% to 63.6%), ADR (-4.7% to US$121.42) and RevPAR (-14.9% to US$77.17).

Two markets matched for the second-largest decrease in occupancy: Nashville, Tennessee (-7.6% to US$71.4%) and Seattle, Washington (-7.6% to 68.4%).

Nashville reported the second-largest drop in RevPAR (-10.6% to US$103.54).

Download STR’s U.S. hotel review for the week ending 2 March.

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STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.