U.S. Hotel perfomance for the week ending 2 May 2009
The U.S. hotel industry posted declines in the three key performance measurements during the week of 26 April-2 May, according to data from STR.In year-over-year measurements, the industry’s occupancy fell 11.6 percent to end the week at 55.7 percent. Average daily rate dropped 8.6 percent to finish the week at US$99.42. Revenue per available room for the week decreased 19.1 percent to finish at US$55.33.
Performance within the Top 25 Markets ranged from single-digit increases to double-digit decreases (in year-over-year measurements):
á Oahu Island, Hawaii, and San Francisco/San Mateo, California, were the only two markets to report occupancy increases for the week. Oahu Island reported a 3.0-percent increase to 75.1 percent, and San Francisco/San Mateo was up 2.3 percent to 72.3 percent.
á Two markets reported occupancy decreases of more than 20 percent: San Diego, California (-22.7 percent to 57.9 percent) and Nashville, Tennessee (-20.8 percent to 50.3 percent).
á The only market to increase in ADR was Seattle, Washington, up 9.0 percent to US$135.31. Seattle was also the only market to report an increase in RevPAR, which was up 6.4 percent to US$88.37.
á Six of the Top 25 Markets reported double-digit decreases in ADR: New York, New York (-30.6 percent to US$202.53); San Diego (-18.2 percent to US$126.98); Miami-Hialeah, Florida (-14.3 percent to US$147.18); Los Angeles-Long Beach, California (-12.7 percent to US$115.10); and Phoenix, Arizona (-11.0 percent to US$118.38).
á Five markets reported decreases in RevPAR of more than 25 percent: New York (-37.9 percent to US$160.50); San Diego (-36.8 percent to US$73.53); Miami-Hialeah (-29.4 percent to US$94.44); Los Angeles-Long Beach (-28.1 percent to US$68.94); and Nashville (-27.0 percent to US$45.99).
Among the seven chain-scale segments, none reported increases in any of the three key performance measurements. The Upper Upscale segment was the only segment to report a single-digit decrease in occupancy, which was down 9.3 percent to 66.6 percent. The Luxury segment reported the largest occupancy decrease, down 13.3 percent to 64.7 percent. The Luxury segment also reported the largest decreases in both ADR and RevPAR, which were down 18.1 percent to US$240.89 and 29.0 percent in RevPAR to US$155.87, respectively.