STR: US Hotel Performance For August 2016 | Hotel News Now
By HNN Staff
The U.S. hotel industry recorded mostly positive results in the three key performance metrics during August 2016, according to data from STR.
Compared with August 2015, the U.S. hotel industry’s occupancy was nearly flat (-0.4% to 70.2%). However, average daily rate for the month increased 2.5% to US$125.42, and revenue per available room grew 2.1% to US$88.10.
“The slowdown continued in August with the second-lowest RevPAR growth figure of the year,” said Jan Freitag, STR’s senior VP for lodging insights. “With year-to-date supply growth (+1.5%) ahead of demand (+1.3%), ADR is the sole driver of RevPAR, and the 2.5% ADR increase matched May for the lowest this year.
“On the bright side, we sold more roomnights than any other August on record, and ADR and RevPAR are still at all-time highs,” Freitag said. “RevPAR has now grown year over year for 78 consecutive months, and even with muted expectations, we don’t anticipate that changing anytime soon.”
Among the Top 25 Markets, Philadelphia, Pennsylvania-New Jersey, posted the largest year-over-year increase in occupancy (+5.2% to 76.7%) as well as the only double-digit increases in ADR (+11.3% to US$132.68) and RevPAR (+17.1% to US$101.71).
