Posted on: April 29 2010 | Posted in: Latest News
STR: Occupancy buoys chain scales' weekly results
By Rachael Spann
Communications Coordinator, STR
29 April 2010
HENDERSONVILLE, Tennesseeâ€”Six of the seven chain-scale segments reported increases in occupancy during the week ending 24 April 2010, according to data from STR.
The luxury segment reported the largest occupancy increase, rising 5.3 percent to 71.1 percent, followed by the upscale segment (+4.8 percent to 71.2 percent) and the upper-upscale segment (+4.3 percent to 75.2 percent). The midscale with-food-and-beverage segment ended the week flat at 53.2 percent.
The luxury segment also posted the largest revenue-per-available-room increase, rising 4.7 percent to US$173.63. The upscale segment followed with a 0.7-percent increase to US$76.48.
Overall, the industry’s occupancy increased 2.4 percent to 60.7 percent, average daily rate dropped 2.4 percent to US$98.16, and RevPAR ended virtually flat with a 0.1-percent decrease to US$59.55.
Among the top 25 markets, New Orleans, Louisiana, with help from the New Orleans Jazz and Heritage festival, held 23 April-2 May 2010, experienced the largest occupancy increase, rising 17.2 percent to 81.7 percent. Oahu Island, Hawaii, reported the largest occupancy decrease, falling 11.9 percent to 72.5 percent.
New York, New York, posted the largest ADR increase, up 7.7 percent to US$222.39, followed by New Orleans with a 6.4-percent increase to US$147.85. Detroit, Michigan experienced the only double-digit ADR decrease, falling 11.3 percent to US$76.67.
New Orleans reported the largest RevPAR increase, rising 24.8 percent to US$120.79. Four markets experienced RevPAR decreases of more than 10 percent: Oahu Island (-15.8 percent to US$106.32); Norfolk-Virginia Beach, Virginia (-14.2 percent to US$40.19); Denver, Colorado (-13.5 percent to US$60.34); and Houston, Texas (-12.0 percent to US$52.31).