The U.S. hotel industry reported occupancy rose 1.2% to 61.7% during February, and a 2.3% ADR jump to $126.38 pushed RevPAR up 3.5% to $78.02 for the month.
HENDERSONVILLE, Tennessee—The U.S. hotel industry reported positive results in the three key performance metrics during February 2018, according to data from STR.
In a year-over-year comparison with February 2017, the industry posted the following:
- Occupancy: +1.2% to 61.7%
- Average daily rate (ADR): +2.3% to US$126.38
- Revenue per available room (RevPAR): +3.5% to US$78.02
“RevPAR has now increased year over year for 96 consecutive months, or eight years in a row,” said Jan Freitag, STR’s senior VP of lodging insights. “That is far longer than the upswing after 9/11 (56 months), but not yet as long as the positive RevPAR run in the mid-90s (112 months). RevPAR growth for February 2018 specifically was a bit stronger than expected, driven by both healthy occupancy and ADR gains. ADR has now risen at or above 2.3% in four of the last five months.”
Among the Top 25 Markets, Super Bowl LII host Minneapolis/St. Paul, Minnesota, experienced the only double-digit rise in occupancy (+13.0% to 64.6%) and the largest increases in ADR (+47.0% to US$158.26) and RevPAR (+66.0% to US$102.29)
Miami/Hialeah, Florida, posted the only other double-digit lift in ADR (+12.1% to US$260.17), which drove the month’s second-highest rise in RevPAR (+17.2% to US$226.19).
Philadelphia, Pennsylvania-New Jersey, reported the second-largest increase in occupancy (+8.1% to 63.1%), resulting in the third-largest jump in RevPAR (+12.2% to US$75.87).
Overall, 18 of the Top 25 Markets reported RevPAR growth.
San Francisco/San Mateo, California, reported the steepest decline in RevPAR (-15.9% to US$160.40), due primarily to the second-largest decreases in occupancy (-5.6% to 76.6%) and ADR (-10.9% to US$209.31).
Houston, Texas, last year’s Super Bowl host, reported the largest decrease in ADR (-17.9% to US$112.39), resulting in the second-largest drop in RevPAR (-14.0% to US$79.14).
Seattle, Washington, experienced the largest drop in occupancy (-7.5% to 67.6%).
“We saw the obvious Super Bowl performance spike in Minneapolis as well as the negative year-over-year comparison for Houston one year removed from its Super Bowl host year,” Freitag said. “At the same time, we saw further weakening of the post-hurricane impact in Texas, which is to be expected as FEMA spending in the state continues to decrease. Overall, RevPAR growth was the same (+3.4%) in the major markets as it was in all other markets. Growth in the non-Top 25 Markets was more driven by ADR gains.”
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