The U.S. hotel industry reported positive results in the three key performance metrics during July 2015, according to data from STR, Inc.
In year-over-year results, the U.S. hotel industry’s occupancy was up 2.3% to 75.3%; its average daily rate rose 5.9% to US$124.32; and its revenue per available room increased 8.3% to US$93.61.
“The July occupancy of 75.3% was the highest single occupancy of any month ever recorded by STR,” said Jan Freitag, STR’s senior VP for lodging insights. “Hand in hand with this goes the demand of more than 116.8 million room nights sold, which is 4 million room nights higher than last July and another all-time record for any month. This translates to a demand increase of 3.5%, which is a continued healthy clip and actually higher than it was in June (+3.2%).”
RevPAR in the U.S. has increased for 65 consecutive months. ADR has risen year-over-year at 5.0% or higher for three straight months and four of the first seven months of 2015.
In July, every Top 25 Market reported year-over-year growth in RevPAR and ADR.
Ten of those markets posted double-digit RevPAR growth, led by Orlando, Florida (+19.4% to US$93.24). Nashville, Tennessee (+17.4% to US$102.16), and Atlanta, Georgia (+15.1% to US$82.72), were the other two markets to post RevPAR increases of more than 15.0%.
Read full article at: Hotel News Now