Posted on: October 25 2012 | Posted in: Latest News
October 25, 2012
By Danny King, Travel Weekly
U.S. hotels' revenue per available room (RevPAR) through the first three quarters of the year rose 6.9% from a year earlier, with Oahu, New Orleans and Houston showing the biggest year-over-year gains, Smith Travel Research (STR) said. New York remained the most expensive U.S. lodging market, followed by Oahu and San Francisco.
U.S. RevPAR reached $66.79, with the largest 25 U.S. markets reporting RevPAR of $89.26. Average room rates rose 4.2%, to $105.94 a night, while occupancy advanced 1.5 percentage points, to 63%, according to STR.
Oahu's year-to-date RevPAR jumped 18% from a year earlier, while New Orleans' was up 15% and Houston's was up 14%. Washington showed the slowest demand growth out of the largest 25 markets, with a RevPAR increase of 0.2%. Through September, New York had an average room rate of $236.58, far ahead of No. 2 Oahu, with a rate of $162.20.
For September, New Orleans hotels' RevPAR surged 49%, primarily on occupancy gains, while Chicago's RevPAR jumped 22%. Washington and Orlando had the only U.S. RevPAR declines for September.