STR Reports November Gains for U.S. Hotel Industry
The U.S. hotel industry posted increases in all three key performance measurements during November 2010, according to data from STR. In year-over-year measurements, the industry’s occupancy was up 9 percent to 53.3 percent, average daily rate ended the month with a 2.5 percent increase to $96.70, and revenue per available room for the month rose 11.8 percent to $51.54.
“Industry performance continues to improve in almost all segments and markets,” said Mark Lomanno, STR’s president. “The most encouraging result this month is an acceleration of room rate growth across a wide swath of the industry. A continuation of this trend bodes very well for 2011.”
Among the Chain Scale segments, the Midscale with Food and Beverage segment experienced the largest occupancy increase, rising 10.4 percent to 45.4 percent, followed by the Upscale segment with a 9.7 percent increase to 62.6 percent. The Luxury segment achieved the largest increases in ADR (up 5.8 percent to $253.68) and in revPAR (up 15.7 percent to $164.66).
Among the top 25 markets, New Orleans achieved the largest increases in all three key performance metrics. The market’s occupancy rose 17.2 percent to 66.8 percent, ADR was up 13.7 percent to $125.11, and revPAR increased 33.3 percent to $83.61. Atlanta was the only market besides New Orleans to report an occupancy increase of more than 15 percent, rising 16.7 percent to 55.2 percent. Nashville, Tenn., was the only top market to experience an occupancy decrease, falling 2.5 percent to 52 percent. Tampa-St. Petersburg, Fla., posted the largest ADR decrease, falling 3.9 percent to $83.76, followed by Nashville with a 2.9 percent decrease to $87.58. Three markets, excluding New Orleans, reported revPAR increases of more than 20 percent -- Atlanta (up 26.2 percent to $46.93), Chicago (up 24.6 percent to $78.86) and Denver (up 23.2 percent to $57.38). For more information, visit www.str.com.