In year-over-year results, the U.S. hotel industry’s occupancy decreased 1.4% to 70.7%; its ADR was up 3.6% to $122.32; and its RevPAR increased 2.2% to $86.46.
Performance results for the month were skewed by a later Labor Day weekend, according to Jan Freitag, STR’s senior VP for lodging insights. “Labor Day weekend not only fell in an earlier week last year, it actually fell in the previous month,” Freitag said.
Despite the decrease in occupancy, RevPAR in the U.S. has now increased year-over-year for 66 consecutive months.
“Room demand declined for the first time in 69 months—it had been growing since October 2009,” Freitag said. “Well, ‘decline’ is sort of a harsh word; a 0.3% demand drop is basically flat performance. In August, the industry lost some 306,000 rooms compared to last year. That said, total demand was still just below 110 million roomnights which, by the way, is the fourth best room demand month ever.”
Among the Top 25 Markets, Denver, Colorado, reported the only double-digit increases in ADR (+10.0% to US$128.16) and RevPAR (+11.5% to US$109.64). Occupancy in the market increased 1.4% to 85.5%.
Read full article at: Hotel News Now