New Orleans on Top- STR Reports US Performance for Week Ending 1 May 2010

Posted on: May 10 2010 | Posted in: Latest News

In year-over-year measurements, the industry's occupancy increased 5.7 percent to 58.8 percent. Average daily rate dropped 1.5 percent to US$98.07. Revenue per available room rose 4.2 percent to US$57.62.

Among the Top 25 Markets, New Orleans, Louisiana, which hosted the Jazz & Heritage Festival 23 April-2 May, reported the largest increases in all three key metrics. The market's occupancy was up 18.3 percent to 77.5 percent, ADR increased 12.5 percent to US$150.20, and RevPAR jumped 33.0 percent to US$116.48.

Nashville, Tennessee, followed New Orleans with a 16.6-percent increase in occupancy to 58.6 percent. Three markets posted occupancy decreases: Oahu Island, Hawaii (-8.5 percent to 68.3 percent); Seattle, Washington (-2.6 percent to 63.9 percent); and Norfolk-Virginia Beach, Virginia (-1.0 percent to 55.3 percent).

Other than New Orleans, New York, New York, was the only market to report an ADR increase of more than 5 percent, rising 8.6 percent to US$220.70. Seattle posted the largest ADR decrease, falling 19.1 percent to US$109.06, followed by Chicago, Illinois, with an 11.1-percent decrease to US$111.78.

Five markets, excluding New Orleans, experienced double-digit RevPAR increases: St. Louis, Missouri-Illinois (+17.9 percent to US$52.65); Nashville (+16.6 percent to US$53.67); New York (+15.7 percent to US$185.85); Denver, Colorado (+15.4 percent to US$62.23); and Miami-Hialeah, Florida (+12.1 percent to US$105.98). Seattle posted the largest RevPAR decrease, falling 21.1 percent to US$69.69, followed by Oahu Island with a 10.3-percent decrease to US$104.16.