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16 January 2009
STR reports U.S. hotel performance for the week ending 10 January 2009
HENDERSONVILLE, Tennessee—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:
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Luxury segment: occupancy -24.4 percent (46.9 percent); ADR -8.9 percent (US$254.51); RevPAR -31.1 percent (US$119.44).
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Upper Upscale segment: occupancy -20.8 percent (47.8 percent); ADR -8.6 percent (US$147.74); RevPAR -27.6 percent (US$70.67).
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Upscale segment: occupancy -22.0 percent (45.4 percent); ADR -7.5 percent (US$112.53); RevPAR -27.8 percent (US$51.10).
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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).
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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).
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Economy segment: occupancy -10.3 percent (39.5 percent); ADR -1.7 percent (US$50.49); RevPAR -11.8 percent (US$19.95).
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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).
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.strglobal.com.
CONTACT
Jeff Higley (STR)
VP, Digital Media & Communications
Phone: +1 (615) 824-8664 ext. 3318
Email: jeff@str.com
ORGANIZATION
 Smith Travel Research
http://www.strglobal.com
735 E. Main St.
USA
- Hendersonville, TN 37075
Phone: (615) 824-8664
Fax: (615) 824-3848
RECENT NEWS
Thursday 18 March 2010 | The Hotel Industry Pulse Index (HIP) posted a slight recovery in February, according to economic research firm e-forecasting.com in conjunction with STR. After edging down 0.5 percent in January, HIP improved 1.3 percent in February.
Monday 15 March 2010 | In year-over-year measurements, the industry's occupancy ended the week with a 4.0-percent increase to 54.9 percent. Average daily rate dropped 3.0 percent to finish the week at US$96.05. Revenue per available room for the week was up 0.9 percent to finish at US$52.75.
Friday 12 March 2010 | The total active U.S. hotel development pipeline includes 3,551 projects comprising 368,740 rooms, according to the February 2010 STR/TWR/Dodge Construction Pipeline Report released this week. This represents a 35.9-percent decrease in the number of rooms in the total active pipeline compared to February 2009.
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