Posted on: January 18 2011 | Posted in: Latest News
Week ending January 8 is a gain for New Orleans...
Posted by Alex Finkelstein 01/17/11 10:28 AM EST
According to Smith Travel Research (STR), the U.S. hotel industry reported single-digit increases in all three key performance metrics during the week ending January 8, 2011.
In year-over-year comparisons, occupancy increased 5.7 percent to 42.8 percent, average daily rate was up 2.0 percent to US$93.43, and revenue per available room finished the week up 7.8 percent to US$40.00.
Among the Top 25 Markets, New Orleans, Louisiana, the host city of the Sugar Bowl on 4 January, achieved the largest increases in all three key performance metrics. The market's occupancy rose 64.3 percent to 66.4 percent, ADR was up 34.5 percent to US$133.24, and RevPAR jumped 120.9 percent to US$88.41.
Three markets, other than New Orleans, reported double-digit occupancy increases: Denver Colorado (+25.3 percent to 52.6 percent); San Francisco/San Mateo, California (+13.7 percent to 51.9 percent); and Dallas, Texas (+10.7 percent to 46.3 percent).
Atlanta, Georgia, experienced the largest decreases in all three key performance metrics. In the comparable week in 2010 the market hosted two large events, the American Economic Association Annual Meeting (3-5 January 2010) and the Atlanta International Gift and Home Furnishings Market (6-13 January 2010). Occupancy fell 18.3 percent to 41.9 percent, ADR was down 14.0 percent to US$78.47, and RevPAR dropped 29.7 percent to US$32.87.
Oahu Island, Hawaii (+12.9 percent to US$182.78), and San Francisco/San Mateo (+12.8 percent to US$120.22), followed New Orleans with significant ADR increases.
Two markets, excluding New Orleans, reported RevPAR increases of more than 25 percent: Denver (+38.1 percent to US$45.31) and San Francisco/San Mateo (28.2 percent to US$62.41).