The U.S. hotel industry posted declines in two key performance measurements and was essentially flat in a third measurement during the week of 12-18 October, according to data from STR.
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In year-over-year measurements, the industry's occupancy fell 7.3 percent to end the week at 64.2 percent. Average daily rate increased 0.1 percent to finish the week at $108.61. Revenue per available room for the week fell 7.1 percent to close at $69.76.
'Results continue to be disappointing in a difficult operating environment,' said Brad Garner, vice president of operations/client services for STR. 'Despite a minor impact from Columbus Day, which occurred early in the week, posted RevPAR for the industry was down more than
7 percent on flat ADR growth.
Four markets among the Top 25 markets experienced year-over-year RevPAR gains during the week-Houston, Texas (+34.8 percent), Oahu Island, Hawaii (+9.0 percent), St. Louis, Missouri (+3.6 percent) and Dallas, Texas (+0.9 percent). Ten of the Top 25 markets posted double-digit RevPAR declines. Houston (+21.8 percent), Oahu Island (+8.7 percent) and St. Louis (+0.5 percent) were the only Top 25 markets to achieve year-over-year occupancy growth.
'Airport locations led the rate of decline in occupancy and RevPAR-down 10.0 percent and 11.0 percent, respectively,' Garner said. 'And while capacity issues have been front and center recently, the lack of business travel into airport locations seems a bit more troubling as the fourth quarter unfolds and into 2009.'
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, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
