The U.S. hotel industry experienced declines in all three key performance measurements, including double-digit drops in occupancy and revenue per available room, during the week of 4-10 January 2009, according to data from STR.
Occupancy fell 16.9 percent from the comparable period a year ago to finish the week at 42.2 percent (50.9 percent in 2008). RevPAR dropped 22.9 percent to end at US$41.50 (US$53.82 in 2008). While not in the double-digit range, average daily rate experienced a decline as well, falling 7.2 percent to US$98.25 (US$105.83 in 2008).
The performances of the chain-scale segments mirrored the industry averages—none posted increases in any of the three key performance metrics compared to the same period last year:
Among Top 25 Markets, all but two experienced decreases in each of the three key performance metrics. Miami-Hialeah, Florida and Norfolk-Virginia Beach, Virginia, experienced near-flat gains in occupancy (+0.9 percent and +0.3 percent, respectively). New Orleans, Louisiana, posted the biggest occupancy decline, from 61.1 percent in the comparable week in 2008 to 43.3 percent in 2009 (-29.2 percent).
