STR posts results for week ending 10 Jan. (United States)
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STR posts results for week ending 10 Jan. (United States)
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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 2009-01-16
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:
• Luxury segment: occupancy -24.4 percent (46.9 percent); ADR -8.9 percent (US$254.51); RevPAR -31.1 percent (US$119.44).
• Upper Upscale segment: occupancy -20.8 percent (47.8 percent); ADR -8.6 percent (US$147.74); RevPAR -27.6 percent (US$70.67).
• Upscale segment: occupancy -22.0 percent (45.4 percent); ADR -7.5 percent (US$112.53); RevPAR -27.8 percent (US$51.10).
• Midscale with Food and Beverage segment: occupancy -17.0 percent (37.1 percent); ADR -3.1 percent (US$79.33); RevPAR -19.5 percent (US$29.40).
• Midscale without Food and Beverage segment: occupancy -18.5 percent (42.5 percent); ADR -3.1 percent (US$84.00); RevPAR -21.0 percent (US$35.66).
• Economy segment: occupancy -10.3 percent (39.5 percent); ADR -1.7 percent (US$50.49); RevPAR -11.8 percent (US$19.95).
• Independents segment: occupancy -15.4 percent (41.8 percent); ADR -7.0 percent (US$96.49); RevPAR -21.3 percent (US$40.36).
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).
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