U.S. Hotels Report Strong Revenue Per Available Room in January
The U.S. hotel industry reported increases in all three key performance metrics during January 2013, according to data from STR. Overall, the U.S. hotel industry’s occupancy rose 3.6 percent to 51 percent, its average daily rate was up 5.1 percent to $105.96 and its revenue per available room increased 8.8 percent to $54.02.
“January revPAR growth rate was the strongest performance we’ve seen since June 2012,” said Brad Garner, STR’s COO. “The results were driven both by solid ADR and demand gains with Washington D.C., Miami and New York among the top performers. The chain scale segments saw growth across all scales, with Luxury leading in both ADR and revPAR growth rates. Independent hotels also saw strong results this month.”
Among the top 25 markets, New York achieved the only double-digit occupancy increase, rising 11.4 percent to 73.8 percent. New Orleans fell 4.5 percent in occupancy to 57.4 percent, posting the largest decrease in that metric.
The three markets that achieved the largest ADR increases were Washington, (plus 17 percent to $151.75); Oahu (plus 15 percent to $209.06); and Miami (plus 12.2 percent to $211.11). New Orleans posted the only ADR decrease, falling 0.2 percent to $144.76.
Three markets experienced revPAR increases of more than 15 percent: Washington (plus 25.8 percent to $79.24); Miami (plus17.5 percent to $174.26); and New York (plus 16.3 percent to $145.17). New Orleans posted the largest revPAR decrease, down 4.7 percent to $83.12.
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