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Published on : Saturday, July 11, 2015
In year-over-year measurements, the industry’s occupancy increased 3.6 percent to 68.3 percent. Average daily rate for the week was up 6.2 percent to US$119.20. Revenue per available room increased 10.1 percent to finish the week at US$81.45.
Seven of the Top 25 Markets reported RevPAR increases of more than 20.0 percent, led by Philadelphia, Pennsylvania-New Jersey (+50.7 percent to US$102.80). Chicago, Illinois, followed with a 43.2-percent increase to US$105.56. Overall, 15 of the Top 25 Markets posted a double-digit increase in RevPAR.
Minneapolis/St. Paul, Minnesota-Wisconsin, reported the largest RevPAR decrease for the week, down 20.3 percent to US$57.20. Houston, Texas (-1.8 percent to US$59.39), was the only other market to show a drop in RevPAR.
Three markets posted ADR increases of more than 15.0 percent: Chicago (+29.4 percent to US$144.87); Philadelphia (+27.2 percent to US$141.34); and Atlanta, Georgia (+17.3 percent to US$104.08).
New Orleans, Louisiana (-4.7 percent to US$162.41), and Minneapolis/St. Paul (-3.3 percent to US$99.70) were the only two Top 25 Markets to report a decrease in ADR.
Six markets experienced a double-digit rise in occupancy, led by Philadelphia (+18.5 percent to 72.7 percent) and Phoenix, Arizona (+18.1 percent to 51.2 percent).
Minneapolis/St. Paul was the only market to see a double-digit decline in occupancy, down 17.5 percent to 57.4 percent.