U.S. Hotel Market Ends September on a High Note

Posted on October 15, 2010

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CHATHAM BARS INN

 

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