Smith Travel Research reports two key measurements drops

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Smith Travel Research reports two key measurements drops (United States)
	Smith Travel Research reports two key measurements drops (United States)
Category: North America & West Indies / Carribean islands - United States - Industry economy - Figures / Studies This is a press release selected by our editorial committee and published online for free on 2008-11-06 The U.S. hotel industry posted year-over-year declines in two key performance measurements during the week of 26 October-1 November, according to data from STR. In year-over-year measurements, the industry’s average daily rate for the week rose 0.7 percent to end the week at US$106.45—up from US$105.67 a year ago. Occupancy dropped 7.3 percent to finish the week at 55.9 percent (60.3 percent last year). Revenue per available room for the week decreased 6.6 percent to end the week at US$59.53 (down from US$63.72 in 2007). Each chain-scale segment posted RevPAR declines, led by the luxury segment’s 11.3-percent drop. Independent properties reported a 10.9-percent decline in RevPAR. Other segments: upper upscale (-4.2 percent); upscale (-2.8 percent); midscale with food and beverage (-5.5 percent); midscale without food and beverage (-4.1 percent); and economy (-7.9 percent). All but two segments reported increases in ADR: luxury (-4.9 percent); upper upscale (flat); upscale (+0.3 percent); midscale with food and beverage (+2.6 percent); midscale without food and beverage (+2.9 percent); economy (+0.6 percent) and independents (-1.1 percent). Each segment reported declines in occupancy: luxury (-6.8 percent); upper upscale (-4.2 percent); upscale (-3.1 percent); midscale with food and beverage (-7.9 percent); midscale without food and beverage (-6.9 percent); economy (-8.4 percent); and independents (-9.9 percent). View report: Weekly U.S. Lodging Report for week ending 01 November 2008