STR Reports US Hotel Occupancy Up 5.5% to 71.3% Week Ending October 11, 2014

Occupancy Up 5.5% to 71.3% and Average Daily Rate up 4.9% to US$120.23

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. October 17, 2014

October 17, 2014 - The U.S. hotel industry recorded positive results in the three key performance measurements during the week of 5-11 October 2014, according to data from STR, Inc.

In year-over-year measurements, the industry's occupancy rose 5.5 percent to 71.3 percent. Average daily rate increased 4.9 percent to finish the week at US$120.23. Revenue per available room for the week was up 10.6 percent to finish at US$85.71.

Of the Top 25 Markets, Norfolk-Virginia Beach, Virginia, reported the largest occupancy increase, rising 15.6 percent to 56.1 percent. Detroit, Michigan, followed with a 14.7-percent increase to 72.1 percent. Minneapolis-St. Paul, Minnesota-Wisconsin (-8.9 percent to 73.1 percent), and New Orleans, Louisiana (-7.9 percent to 73.0 percent), posted the largest occupancy decreases.

Four markets recorded double-digit ADR increases: Nashville, Tennessee (+18.3 percent to US$127.98); Los Angeles/Long Beach, California (+12.1 percent to US$154.69); Philadelphia, Pennsylvania-New Jersey (+10.8 percent to US$138.30); and St. Louis, Missouri-Illinois (+10.8 percent to US$105.29). Washington, D.C., fell 1.3 percent to US$175.39, reporting the only ADR decrease.

Four markets achieved RevPAR increases of more than 20.0 percent: Nashville (+34.5 percent to US$105.48); Detroit (+24.6 percent to US$66.04); St. Louis, Missouri-Illinois (+24.3 percent to US$79.32); and Norfolk-Virginia Beach (+20.9 percent to US$47.48). New Orleans fell 7.9 percent to US$115.20, experiencing the largest decrease in that metric.