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Published on : Saturday, January 9, 2016
In year-over-year measurements, the industry’s occupancy increased 5.5% to 54.7%. Average daily rate for the week was up 3.2% to US$128.90, and revenue per available room increased 8.9% to US$70.52.
Among the Top 25 Markets, St. Louis, Missouri-Illinois, reported the largest increases in occupancy (+43.0% to 54.5%) and RevPAR (+54.7% to US$46.17). ADR in the market was up 8.2% to US$84.72.
Five additional markets recorded RevPAR growth of 20.0% or higher: Dallas, Texas (+36.2% to US$49.14); Norfolk/Virginia Beach, Virginia (+23.1% to US$32.91); Detroit, Michigan (+23.1% to US$40.19); Tampa/St. Petersburg, Florida (+22.8% to US$95.13); and Chicago, Illinois (+20.5% to US$53.39).
While 13 of the Top 25 Markets experienced a double-digit increase in RevPAR, New Orleans, Louisiana (-4.4% to US$128.24), and New York, New York (-0.1% to US$239.01) were the only markets to report a decrease in the metric.
Four markets posted a double-digit rise in ADR: Dallas (+13.1% to US$87.44); Tampa/St. Petersburg (+12.4% to US$121.77); Orlando, Florida (+10.3% to US$157.58); and Los Angeles/Long Beach, California (+10.2% to US$169.83).
Of the three markets to report a drop in ADR, New Orleans (-7.0% to US$175.71) reported the largest decrease.
After St. Louis, five other markets experienced a double-digit increase in occupancy: Dallas (+20.4% to 56.2%); Detroit (+15.1% to 46.3%); Norfolk/Virginia Beach (+14.2% to 42.4%); Philadelphia, Pennsylvania-New Jersey (+13.4% to 46.2%); and Chicago (+11.7% to 49.1%).
Miami/Hialeah, Florida (-1.1% to 88.9%) saw the largest decrease in occupancy.