Posted on: August 20 2010 | Posted in: Latest NewsNew Orleans occupancy rate almost doubled the industry average.
August 20, 2010
The U.S. hotel industry posted increases in all three key performance measurements during July 2010, according to data from STR.
In year-over-year measurements, the industry’s occupancy was up 7.0 percent to 67.9 percent. Average daily rate ended the month with a 1.3-percent increase to US$99.14. Revenue per available room for the month rose 8.5 percent to finish at US$67.35.
Among the Top 25 Markets, all but one market reported occupancy increases and 8 top markets reported double-digit increases. Detroit, Michigan, led the occupancy increases, rising 20.9 percent to 61.5 percent, followed by Oahu Island, Hawaii (+15.9 percent to 89.6 percent), and New Orleans, Louisiana (+13.1 percent to 72.6 percent). Phoenix, Arizona, posted the only occupancy decrease, falling 1.4 percent to 43.6 percent.
New York, New York, achieved the highest and only double-digit ADR increase, rising 11.6 percent to US$204.68. Dallas, Texas, reported the largest ADR decrease, falling 4.1 percent to US$77.72, followed by Nashville, Tennessee (-3.3 percent to US$82.94), and Houston, Texas (-3.2 percent to US$83.12).
Five top markets experienced RevPAR increases of more than 15 percent: Oahu Island (+20.8 percent to US$139.58); New Orleans (+17.9 percent to US$77.82); Detroit (+17.7 percent to US$45.57); New York (+16.3 percent to US$170.67); and Denver, Colorado (+15.6 percent to US$74.03). Phoenix posted the largest RevPAR decrease, falling 4.2 percent to US$31.91, followed by Houston with a 1.7-percent decrease to US$46.03.
View U.S. hotel review for July 2010.