The U.S. hotel industry reported negative year-over-year results in the three key performance metrics during the week of 24-30 November 2019, according to data from STR.
In comparison with the week of 25 November through 1 December 2018, the industry recorded the following:
• Occupancy: -11.6% to 50.6%
• Average daily rate (ADR): -6.7% to US$112.28
• Revenue per available room (RevPAR): -17.5% to US$56.83
STR analysts attribute significant performance declines to comparison of Thanksgiving week in 2019 against the week that followed the holiday in 2018.
Boston, Massachusetts, registered the largest decrease in RevPAR (-47.5% to US$65.18), due primarily to the second-steepest drop in occupancy (-29.7% to 50.7%).
Minneapolis/St. Paul, Minnesota, saw the largest drop in occupancy (-34.3% to 39.0%).
Chicago, Illinois, reported the largest decline in ADR (-26.6% to US$111.73) and the second-largest decrease in RevPAR (-44.6% to US$56.04).
Overall, 21 of the Top 25 Markets reported a RevPAR decrease.
Oahu Island, Hawaii, recorded the highest jump in RevPAR (+21.1% to US$186.36), driven by the only double-digit lift in ADR (+15.4% to US$238.80).
Anaheim/Santa Ana, California, experienced the largest rise in occupancy (+6.7% to 68.1%) and the only other double-digit increase in RevPAR (+14.9% to US$107.27).
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
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