HENDERSONVILLE, Tennessee—The U.S. hotel industry reported mixed year-over-year results in the three key performance metrics during the week of 1-7 July 2018, according to data from STR.
In comparison with the week of 2-8 July 2017, the industry recorded the following:
- Occupancy: -3.1% to 63.5%
- Average daily rate (ADR): +1.1% to US$123.59
- Revenue per available room (RevPAR): -2.0% to US$78.47
STR analysts note that occupancy declines were mostly a result of the Fourth of July holiday, especially early in the week.
Unfortunately, St. Louis, Missouri-Illinois, experienced the largest drop in occupancy (-12.3% to 58.4%).
Chicago, Illinois, reported the second-largest decreases in each of the three key performance metrics: occupancy (-10.3% to 61.6%), ADR (-7.8% to US$118.99) and RevPAR (-17.3% to US$73.33).
This huge decrease in occupancy does not bode well seeing as these dates included a holiday weekend. Hopefully, we will see improvement in these ratings for St.Louis in the coming months.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.