http://www.hotelnewsnow.com/articles.aspx/4794/STR-reports-year-end-10-Dec-10-data
21 January 2011
HNN Newswire
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Story Highlights•Overall in 2010, the U.S. hotel industry's occupancy increased 5.7%, ADR decreased 0.1%, and RevPAR was up 5.5%.
•During December 2010 the industry reported increases in all three key performance metrics.
•Detroit ended the year with the largest increase in occupancy.
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HENDERSONVILLE, Tennessee—The U.S. hotel industry ended 2010 with mostly positive performance results, according to data compiled by STR.
The industry’s occupancy increased 5.7 percent to 57.6 percent, average daily rate ended the year virtually flat with a 0.1-percent decrease to US$98.08, and revenue per available room was up 5.5 percent to US$56.47.
“2010 will be known as the year of demand recovery,” said Mark Lomanno, STR’s CEO. “For most industry markets and segments, the number of people purchasing hotel rooms approached and in some cases exceeded pre-recession levels. However, for myriad reasons including but not limited to historically low occupancies, late booking patterns and the sluggish return of group business, room rate acceleration did not follow the influx of guests. We look to see this change dramatically in 2011, especially during the second half of the year.”
Among the Top 25 Markets, Detroit, Michigan, experienced the largest occupancy increase, rising 14.2 percent to 54.3 percent, followed by New Orleans, Louisiana (+12.7 percent to 64.7 percent), and Boston, Massachusetts (+10.4 percent to 68.7 percent). Houston, Texas, ended the year virtually flat with a 0.3-percent occupancy decrease to 55.1 percent, reporting the only decrease among the top markets.
New York, New York, achieved the only ADR increase of more than 5 percent, rising 7.5 percent to US$232.29. Three markets posted ADR decreases of more than 5 percent: Tampa-St. Petersburg, Florida (-7.2 percent to US$91.43); Detroit (-5.2 percent to US$74.49); and Phoenix, Arizona (-5.1 percent to US$100.94).
Five top markets experienced double-digit RevPAR increases for the year: New Orleans (+14.7 percent to US$74.92); Boston (+13.0 percent to US$97.19); New York (+12.9 percent to US$187.93); Miami-Hialeah, Florida (+10.9 percent to US$101.19); and Denver, Colorado (+10.5 percent to US$59.25). Houston (-4.2 percent to US$48.78) and Tampa-St. Petersburg (-1.5 percent to US$50.56) experienced the only RevPAR decreases for the year.
December 2010
During December 2010, the industry’s occupancy increased 5.4 percent to end the month at 46.0 percent. ADR was up 1.9 percent to finish the month at US$96.22. RevPAR for the month rose 7.4 percent to finish at US$44.23.
“Results for the month of December saw the continuation of strong demand growth in conjunction with very modest room rate growth,” Lomanno said. “Room rate increases continue to be quite slow as it appears most hoteliers have been unable to accelerate this key component necessary to realize a full recovery.”
Detroit rose 14.5 percent in occupancy to 46.8 percent, reporting the largest increase among the top markets, followed by Orlando, Florida (+11.9 percent to 65.3 percent), and Oahu Island, Hawaii (+11.4 percent to 79.8 percent. Two top markets posted occupancy decreases: New Orleans (-4.6 percent to 50.7 percent) and New York (-2.8 percent to 77.7 percent).
San Francisco/San Mateo, California (+11.0 percent to US$130.52), and Orlando, Florida (+10.2 percent to US$96.44), were the only top markets to report double-digit ADR increases for the month. New Orleans dropped 15.9 percent in ADR to US$101.80, reporting the largest decrease in that metric.
Three markets experienced RevPAR increases of more than 15 percent: Orlando (+23.3 percent to US$63.00); San Francisco/San Mateo (+20.2 percent to US$84.07); and Oahu Island (+18.9 percent to US$133.96). Two markets posted RevPAR decreases for the month: New Orleans (-19.8 percent to US$51.59) and Tampa-St. Petersburg (-4.9 percent to US$37.59).
About STR
STR (www.str.com) provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. STR also founded the Hotel Data Conference (www.Hoteldataconference.com), which will be held 3-4 August 2011 in Nashville, Tennessee.
Media contacts:
Jeff Higley
VP, Digital Media & Communications
jeff@str.com
+1 (615) 824-8664 ext. 3318
Rachael Spann Urie
Communications Coordinator
rurie@str.com
+1 (615) 824-8664 ext. 3305
Friday, May 25, 2012
STR: US hotels report strong results in 2011
STR: US hotels report strong results in 2011
23 January 2012
HNN Newswire
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HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in all three key performance metrics in 2011, according to data from STR.
Overall, the U.S. hotel industry’s occupancy rose 4.4 percent to 60.1 percent, its average daily rate was up 3.7 percent to US$101.64 and its revenue per available room increased 8.2 percent to US$61.06.
2011 was the first time since 2008 that the industry ended the year with occupancy of more than 60 percent and an ADR of more than US$100.
The industry reported a 0.6-percent increase in supply in 2011 and a 5.0-percent demand increase for the year. Demand has increased 5.0 percent or more only three times since 1987.
“2011 was a strong year for the U.S. hotel industry,” said Randy Smith, co-founder and chairman at STR. “Room-supply growth continued to drift downward as room demand reached record levels during the year. Though occupancy and ADR were still below 2007 and 2008 levels, it was still encouraging to see the industry experience a solid rebound during a period of considerable economic difficulties.”
“In 2012 the hotel industry will face tough year-over-year comparisons, though we are still optimistic,” Smith continued. “With modest gains in occupancy and stronger increases in room rates, we expect RevPAR to increase about 4.3 percent in 2012.”
Among the Top 25 Markets, Detroit, Michigan, ended the year with the largest occupancy increase, up 10.2 percent to 59.8 percent, followed by Tampa-St. Petersburg, Florida, with a 9.7-percent increase to 60.5 percent. New Orleans, Louisiana, ended the year virtually flat with a 0.4-percent decrease to 64.2 percent.
Two markets ended the year with double-digit ADR increases: San Francisco/San Mateo, California (+13.9 percent to US$155.14), and Oahu Island, Hawaii (+10.0 percent to US$165.05). Atlanta, Georgia (-0.4 percent to US$82.58), and Norfolk-Virginia Beach, Virginia (-0.3 percent to US$84.24) were the only top markets to report ADR decreases in 2011.
San Francisco/San Mateo achieved the largest RevPAR increase, rising 19.7 percent to US$122.54, followed by Nashville (+14.8 percent to US$58.01) and Miami-Hialeah (+14.1 percent to US$115.65). None of the top markets reported RevPAR decreases for the year.
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Media Contacts:
Jeff Higley
VP, Digital Media & Communication
jeff@str.com
+1 (615) 824 8664 ext. 3318
Rachael Spann Urie
Director, Public Relations
rurie@str.com
+1 (615) 824 8664 ext. 3305
23 January 2012
HNN Newswire
--------------------------------------------------------------------------------
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported increases in all three key performance metrics in 2011, according to data from STR.
Overall, the U.S. hotel industry’s occupancy rose 4.4 percent to 60.1 percent, its average daily rate was up 3.7 percent to US$101.64 and its revenue per available room increased 8.2 percent to US$61.06.
2011 was the first time since 2008 that the industry ended the year with occupancy of more than 60 percent and an ADR of more than US$100.
The industry reported a 0.6-percent increase in supply in 2011 and a 5.0-percent demand increase for the year. Demand has increased 5.0 percent or more only three times since 1987.
“2011 was a strong year for the U.S. hotel industry,” said Randy Smith, co-founder and chairman at STR. “Room-supply growth continued to drift downward as room demand reached record levels during the year. Though occupancy and ADR were still below 2007 and 2008 levels, it was still encouraging to see the industry experience a solid rebound during a period of considerable economic difficulties.”
“In 2012 the hotel industry will face tough year-over-year comparisons, though we are still optimistic,” Smith continued. “With modest gains in occupancy and stronger increases in room rates, we expect RevPAR to increase about 4.3 percent in 2012.”
Among the Top 25 Markets, Detroit, Michigan, ended the year with the largest occupancy increase, up 10.2 percent to 59.8 percent, followed by Tampa-St. Petersburg, Florida, with a 9.7-percent increase to 60.5 percent. New Orleans, Louisiana, ended the year virtually flat with a 0.4-percent decrease to 64.2 percent.
Two markets ended the year with double-digit ADR increases: San Francisco/San Mateo, California (+13.9 percent to US$155.14), and Oahu Island, Hawaii (+10.0 percent to US$165.05). Atlanta, Georgia (-0.4 percent to US$82.58), and Norfolk-Virginia Beach, Virginia (-0.3 percent to US$84.24) were the only top markets to report ADR decreases in 2011.
San Francisco/San Mateo achieved the largest RevPAR increase, rising 19.7 percent to US$122.54, followed by Nashville (+14.8 percent to US$58.01) and Miami-Hialeah (+14.1 percent to US$115.65). None of the top markets reported RevPAR decreases for the year.
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Media Contacts:
Jeff Higley
VP, Digital Media & Communication
jeff@str.com
+1 (615) 824 8664 ext. 3318
Rachael Spann Urie
Director, Public Relations
rurie@str.com
+1 (615) 824 8664 ext. 3305
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