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Published on : Saturday, May 23, 2015
In year-over-year results, the U.S. hotel industry’s occupancy was up 1.9 percent to 66.8 percent; its average daily rate rose 4.5 percent to US$119.37; and its revenue per available room increased 6.4 percent to US$79.80.
“After a stellar March, the April U.S. numbers continued to impress,” said Jan Freitag, STR’s senior VP of strategic development. “April had the highest occupancy ever (66.8 percent), and the highest room demand (99.4 million rooms) ever. This pushed annualized occupancy up to 65 percent, a number we have never been able to report. This means that all key performance indicators (rooms available, rooms sold, revenue, occupancy, ADR and RevPAR) are still at all-time highs.”
Freitag also noted that RevPAR in the U.S. has increased for 62 consecutive months.
Of the Top 25 Markets, eight reported double-digit RevPAR growth, led by Chicago, Illinois (+16.1 percent to US$99.81) and Seattle, Washington (+15.2 percent to US$102.04).
New York, New York, saw the largest decrease in RevPAR, down 5.7 percent to US$218.82. Overall, three markets reported decreases in RevPAR.
Two of the Top 25 Markets experienced a double-digit ADR increase: San Francisco/San Mateo, California (+12.1 percent to US$213.30) and Chicago (+11.7 percent to US$138.76).
New York (-4.6 percent to US$251.66) reported the largest ADR decrease during the month.
Tampa/St. Petersburg, Florida (+5.6 percent to 78.7 percent) posted the largest occupancy increase, while Houston, Texas (-5.3 percent to 70.9 percent) reported the largest occupancy decrease. New York reported the highest overall occupancy (86.9 percent) of any of the Top 25 Markets.
“April results for the Top 25 Markets were pretty healthy (RevPAR +5.7 percent), but it turns out the rest of the U.S. actually did quite a bit better (RevPAR +7.0 percent),” Freitag said. “The reason for this was stronger occupancy and rate growth outside the major metros. ADR in all other markets (+4.8 percent) outperformed the Top 25 Markets (+4.1 percent). Supply growth for the Top 25 Markets was 1.3 percent and stands now year-to-date at 1.3 percent as well.”