Posted on: January 25 2012Major events helped the occupancy rate rise for week ending January 14, 2012.
January 23, 2012
By David Barley, World Property Channel
According to STR, the U.S. hotel industry experienced increases in all three key performance metrics during the week ending January 14, 2012.
In year-over-year comparisons for the week, occupancy was up 4.9 percent to 52.1 percent, average daily rate increased 5.6 percent to US$102.99 and revenue per available room was up 10.8 percent to US$53.65.
"Several major events had a positive impact on performance this week, most notably in the Independent segment," said Chad Church, senior director of operations and special services at STR. "The Consumer Electronics Show in Las Vegas, held 10-13 January with more than 150,000 attendees, had a favourable comparison as it shifted weeks in 2012 (6-9 January 2011). In addition, New Orleans hosted the BCS Football Championship game on 9 January."
Among the Top 25 Markets, New Orleans, Louisiana, experienced the largest increases in all three key performance metrics. The market's occupancy increased 31.0 percent to 70.2 percent, its ADR was up 60.3 percent to US$171.59, and its RevPar jumped 110.0 percent to US$120.38.
Two markets other than New Orleans, reported double-digit occupancy increases: Nashville, Tennessee (+12.0 percent to 54.7 percent), and Houston, Texas (+10.1 percent to 60.7 percent). Phoenix, Arizona, posted the largest occupancy decrease, falling 18.8 percent to 60.3 percent, followed by Anaheim-Santa Ana, California, with a 17.3-percent decrease to 58.9 percent.
Anaheim-Santa Ana reported the largest ADR decrease, falling 9.1 percent to US$108.74.
Three markets, excluding New Orleans, achieved Repair increases of more than 15 percent: Oahu Island, Hawaii (+17.6 percent to US$157.72); San Francisco/San Mateo, California (+16.7 percent to US$145.21); and Miami-Hialeah, Florida (+16.2 percent to US$145.12). Anaheim-Santa Ana (-24.8 percent to US$64.01) and Phoenix (-24.3 percent to US$71.57) posted the largest Repair decreases for the week.