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Published on : Friday, June 19, 2015
In year-over-year measurements, the industry’s occupancy increased 2.6 percent to 73.7 percent. Average daily rate increased 5.0 percent to finish the week at US$121.24. Revenue per available room for the week was up 7.8 percent to finish at US$89.33.
Five of the Top 25 Markets reported RevPAR increases of more than 20.0 percent: San Diego, California (+48.2 percent to US$161.68); Nashville, Tennessee (+40.1 percent to US$134.33); Atlanta, Georgia (+23.6 percent to US$75.76); Dallas, Texas (+22.8 percent to US$76.81); and Tampa/St. Petersburg, Florida (+20.1 percent to US$77.94). Overall, 23 of the Top 25 Markets posted increases in RevPAR, 14 of which saw double-digit RevPAR growth.
Nine markets posted double-digit ADR increases, led by Nashville (+31.6 percent to US$159.21), and San Diego (+26.2 percent to US$173.73).
Four markets experienced double-digit increases in occupancy: San Diego (+17.4 percent to 93.1 percent); Dallas (+11.4 percent to 77.4 percent); Norfolk/Virginia Beach, Virginia (+11.4 percent to 71.1 percent); and Tampa/St. Petersburg (+10.1 percent to 71.5 percent).
Los Angeles/Long Beach, California, reported the largest decrease in all three key performance metrics. The market’s RevPAR fell 4.1 percent to US$133.22; its ADR was down 1.1 percent to US$158.46; and its occupancy declined 3.0 percent to 84.1 percent.