Smith Travel Research (STR) reported this week that the U.S. hotel industry reported increases in all three key performance metrics during the week of September 25, 2010.
In year-over-year comparisons, occupancy increased 7.5 percent to 64.2 percent, average daily rate was up 2.6 percent to US$103.09, and revenue per available room ended the week up 10.3 percent to US$66.15.
Among the Top 25 Markets, New Orleans, Louisiana, achieved the largest occupancy increase, rising 20.9 percent to 59.6 percent, followed by Detroit, Michigan (+14.9 percent to 62.3 percent), and Miami-Hialeah, Florida (+14.9 percent to 65.3 percent). Anaheim-Santa Ana, California, reported the only occupancy decrease, falling 2.4 percent to 67.5 percent.
Two markets experienced double-digit ADR increases: San Francisco/San Mateo, California (+22.3 percent to US$193.76), and New York, New York (+10.3 percent to US$332.39). Nashville, Tennessee reported the largest ADR decrease, falling 5.7 percent to US$89.67, followed by Houston, Texas (-2.4 percent to US$90.70) and Anaheim-Santa Ana (-2.3 percent to US$108.57).
San Francisco/San Mateo increased 27.4 percent in RevPAR to US$183.37, reporting the largest increase in that metric, followed by New Orleans (+24.3 percent to US$59.59) and Washington, D.C. (+18.6 percent to US$132.65). Anaheim-Santa Ana dropped 4.7 percent to US$73.28, reporting the largest decrease in that metric.
by Michael Gerrity 10/05/10 from realestatechannel.com
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