Posted on: March 25 2013 | Posted in: Latest News
March 22, 2013
HENDERSONVILLE, Tennesseeâ€”The U.S. hotel industry reported increases in all three key performance metrics during February 2013, according to data from STR.
Overall, the U.S. hotel industry’s occupancy rose 2.0 percent to 58.5 percent, its average daily rate was up 4.4 percent to US$107.72 and its revenue per available room increased 6.4 percent to US$63.04.
“After posting a nearly 9-percent RevPAR increase in January, February growth is back to similar levels we saw in 2012,” said Brad Garner, STR’s COO. “ADR growth is the primary driver for RevPAR performance across all segments. Additionally, low supply growth and modest demand continue to help occupancy rates.”
Among the Top 25 Markets, Houston, Texas, reported the largest occupancy increase, rising 9.4 percent to 74.9 percent, followed by Denver, Colorado (+6.7 percent to 61.7 percent), and Minneapolis-St. Paul, Minnesota-Wisconsin (+6.2 percent to 59.8 percent). Norfolk-Virginia Beach, Virginia, fell 5.1 percent in occupancy to 43.2 percent, posting the largest decrease in that metric. San Diego, California, followed with a 1.0-percent decrease to 68.0 percent.
Three markets experienced double-digit ADR increases: New Orleans, Louisiana (+30.7 percent to US$191.59); Oahu Island, Hawaii (+20.7 percent to US$209.18); and Houston (+10.4 percent to US$106.89). San Francisco/San Mateo, California, reported the only ADR decrease, falling 2.6 percent to US$163.58.
New Orleans jumped 33.0 percent in RevPAR to US$136.38, achieving the largest increase in that metric, followed by Oahu Island (+23.6 percent to US$187.79) and Houston (+20.8 percent to US$80.11). Norfolk-Virginia Beach fell 3.7 percent in RevPAR to US$29.53, reporting the only decrease in that metric.