STR Reports Growth in All Areas for U.S. Hotel Industry in 2012
The U.S. hotel industry reported growth in all three key performance metrics in 2012, according to data from STR. Overall, the U.S. hotel industry’s occupancy increased 2.5 percent to 61.4 percent, its average daily rate was up 4.2 percent to $106.10, and its revenue per available room grew 6.8 percent to 65.17.
“Fiscal cliffs, hurricanes, elections and, at times, a sense of overwhelming uncertainty did not deter positive 2012 year-end performance results,” said Brad Garner, STR's COO. Annualized room nights sold increased by 3 percent in 2012, and outpaced the 2007 previous peak levels by 60 million rooms (1.09 billion rooms in 2012 versus 1.03 billion in 2007). Room rates for hotels increased by over 4 percent, pushing industry-wide RevPAR by almost 7 percent. The industry was also unencumbered by supply growth of 0.5 percent.
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