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Published on : Monday, November 4, 2013
In year-over-year measurements, the industry’s occupancy was up 1.1 percent to 65.8 percent. Average daily rate rose 3.7 percent to finish the week at US$113.72. Revenue per available room for the week increased 4.9 percent to finish at US$74.82.
Among the Top 25 Markets, Nashville, Tennessee, rose 17.6 percent to 81.4 percent in occupancy, reporting the largest increase in that metric. Boston, Massachusetts, followed with a 10.1-percent increase to 89.7 percent. Miami-Hialeah, Florida, reported the only double-digit occupancy decrease, falling 12.4 percent to 74.9 percent.
Five markets experienced double-digit ADR increases: Boston (+15.1 percent to US$206.55); Nashville (+13.5 percent to US$114.90); St. Louis, Missouri-Illinois (+11.8 percent to US$102.84); Philadelphia, Pennsylvania-New Jersey (+11.5 percent to US$133.67); and Oahu Island, Hawaii (+11.0 percent to US$199.86).
Three markets achieved RevPAR increases of more than 15 percent: Nashville (+33.5 percent to US$93.58); Boston (+26.8 percent to US$185.29); Philadelphia (+21.6 percent to US$98.81); and St. Louis (+19.4 percent to US$72.98).
Miami-Hialeah reported the largest ADR (-8.6 percent to US$156.32) and RevPAR (-19.9 percent to US$117.13) decreases for the week.
Tags: performance measurements