U.S. Hotel performance results
The U.S. hotel industry posted declines in all three key performance measurements during the week of 22-28 February 2009, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 12.6 percent to end the week at 54.1 percent. Average daily rate dropped 6.8 percent to finish the week at US$100.54. Revenue per available room for the week decreased 18.5 percent to finish at US$54.37.
Among the Top 25 Markets, Norfolk-Virginia Beach, Virginia, and New Orleans, Louisiana, were the only two markets to report increases in any of the three key performance measurements. Norfolk-Virginia Beach experienced a 0.5 percent increase in ADR to end the week at US$73.54. New Orleans increased ADR 5.6 percent to US$131.11.
Other key performances from the Top 25 Markets include:
á Oahu Island, Hawaii, reported the smallest decrease in occupancy, falling 0.9 percent to end at 76.2 percent. Washington, D.C., was the only other market to report a decrease of less than 5 percent, as it was down 3.3 percent to 63.4 percent.
á New York, New York, reported the largest decrease in ADR, dropping 18.3 percent to US$189.73. Other markets down by more than 10 percent in ADR for the week include: Miami-Hialeah, Florida (-14.6 percent to US$174.72); Boston, Massachusetts (-13.2 percent to US$125.89); Orlando, Florida (-13.2 percent to US$107.95); Phoenix, Arizona (-12.9 percent to US$137.46); San Francisco/San Mateo, California (-12.8 percent to US$125.67); Atlanta, Georgia (-12.7 percent to US$86.30); and Tampa-St. Petersburg, Florida (-11.2 percent to US$110.47).
á Three markets reported decreases in RevPAR of less than 10 percent: Washington, D.C. (-5.6 percent to US$99.32); Norfolk-Virginia Beach (-4.6 percent to US$31.63); New Orleans (-1.5 percent to US$82.34).
á The largest decrease in RevPAR was reported by Atlanta, which experienced a 30.8-percent drop to US$45.08. Other markets that reported decreases of more than 25 percent include: Boston (-28.4 percent to US$63.93); New York (-27.9 percent to US$125.36); Orlando (-27.7 percent to US$69.18); Miami-Hialeah (-27.4 percent to US$131.65); Phoenix (-27.2 percent to US$91.27); Detroit, Michigan (-25.3 percent to US$34.83); and Tampa-St. Petersburg (-25.3 percent to US$71.98).