January Occupancy In U.S. Down 10.7%; Rate Off 5.2%
-- Hotels, 2/24/2009 11:03:00 AM
HENDERSONVILLE, Tennessee-The U.S. hotel industry posted declines in the three key performance measurements during the month of January, according to data from STR.
In year-over-year measurements, the industry’s occupancy fell 10.7 percent to end the month at 45.9 percent (51.5 percent in 2008). Average daily rate dropped 5.2 percent to finish the month at US$100.66 (US$106.14 in 2008). Revenue per available room for the month decreased 15.3 percent to finish at US$46.24 (US$54.62 in 2008).
“The U.S. lodging industry results in January continued to reflect the deteriorating economic conditions throughout the country,” said Mark Lamanno, STR’s president. “In addition, the recent trend of accelerating declines in performance seen in the Top 25 U.S. markets highlights the difficulty hotels face when declines in both business and leisure travel occur in tandem.”
Among the Top 25 Markets, Washington, D.C., was the only market to report increases in all three key performance measurements, benefitting from the inauguration held on 20 January 2009. Occupancy rose 2.5 percent to 52.3 percent, ADR increased 25.8 percent to US$181.75, and RevPAR increased 28.9 percent to US$95.12.
Other Top 25 markets with noteworthy performances include:
· Tampa-St.Petersburg, Florida was the only other market to report an increase in ADR, up 9.5 percent to US$126.23.
· Largest occupancy declines: Detroit, Michigan (-18.9 percent to 40.6 percent); Seattle, Washington (-17.9 percent to 45.7 percent); and Atlanta, Georgia (-16.8 percent to 48.4 percent).
· Largest ADR declines: New York, New York (-13.1 percent to US$199.05); Phoenix, Arizona (-12.3 percent to US$133.52); and Detroit (-11.9 percent to US$87.22).
· Largest RevPAR declines: Detroit (-28.6 percent to US$35.42); New York (-27.1 percent to US$118.44); and Phoenix (-25.2 percent to US$74.36).
Among the chain-scale segments, the Luxury segment reported the largest decreases in all three key performance measurements. The segment posted decreases of 17.1 percent in occupancy to 52.7 percent; 7.6 percent in ADR to US$266.80; and 23.3 percent in RevPAR to US$140.71.
About STR & STR Global
For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tennessee, and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
No related content found.
View All Podcasts
