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Published on : Friday, March 25, 2016
In year-over-year comparisons, the industry’s occupancy increased 1.9% to 70.5%. Average daily rate for the week was up 4.2% to US$127.72. Revenue per available room increased 6.2% to US$90.04.
Among the Top 25 Markets, Los Angeles/Long Beach, California, reported the largest increases in ADR (+14.0% to US$174.23) and RevPAR (+21.3% to US$153.26). Occupancy in the market rose 6.4% to 88.0%.
Five additional markets recorded a double-digit lift in RevPAR for the week: Anaheim/Santa Ana, California (+16.6% to US$133.84); San Francisco/San Mateo, California (+16.0% to US$211.85); Norfolk/Virginia Beach, Virginia (+14.0% to US$49.56); San Diego, California (+12.0% to US$132.36); and Nashville, Tennessee (+11.4% to US$114.21).
Of the six markets to see a decrease in RevPAR, Houston, Texas (-9.6% to US$80.59), reported the largest decrease in the metric.
After Los Angeles/Long Beach, two markets posted a double-digit rise in ADR: San Francisco/San Mateo (+11.3% to US$240.15) and Anaheim/Santa Ana (+10.7% to US$154.52). Overall, 21 of the Top 25 Markets recorded positive ADR performance.
Houston (-3.5% to US$109.53) and St. Louis, Missouri-Illinois (-3.5% to US$100.30), reported the largest drops in ADR for the week.
Norfolk/Virginia Beach (+9.0% to 58.3%) saw the top increase in occupancy. Boston, Massachusetts (-7.6% to 69.2%), experienced the steepest decline in the metric.