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Published on : Thursday, November 26, 2015
In year-over-year measurements, the industry’s occupancy increased 3.7% to 63.1%. Average daily rate for the week was up 3.8% to US$116.26. Revenue per available room increased 7.6% to finish the week at US$73.33.
Among the Top 25 Markets, Minneapolis/St. Paul, Minnesota-Wisconsin, posted the largest increases in occupancy (+18.4% to 71.8%) and RevPAR (+34.2% to US$86.32). ADR in the market was up 13.4% to US$120.28.
Five additional markets reported an increase in RevPAR of more than 15.0%: Tampa/St. Petersburg, Florida (+24.5% to US$75.07); Miami/Hialeah, Florida (+21.9% to US$157.53); San Francisco/San Mateo, California (+19.9% to US$182.75); Atlanta, Georgia (+17.9% to US$71.14); and Nashville, Tennessee (+15.2% to US$97.83). Overall, 13 of the Top 25 Markets saw a double-digit increase in RevPAR for the week.
In terms of ADR, San Francisco/San Mateo posted the largest increase, up 13.9% to US$212.21. In addition to Minneapolis/St. Paul, three other markets reported a double-digit rise in ADR: Miami/Hialeah (+11.7% to US$188.64), Atlanta (+11.4% to US$103.56) and Nashville (+11.1% to US$131.33).
After Minneapolis/St. Paul, Tampa/St. Petersburg was the only other market to experience a double-digit rise in occupancy, up 13.7% to 71.2%.
New Orleans, Louisiana, reported the only double-digit decreases in occupancy (-12.0% to 67.9%) and RevPAR (-20.5% to US$96.34) as well as the steepest decline in ADR (-9.7% to US$141.87).