STR Reports US Hotel Occupancy Up for 3rd Quarter 2014
Occupancy Up 3.8% to 70.3% and Average Daily Rate Up 5.2% to US$117.91
October 28, 2014 - The U.S. hotel industry reported increases in all three key performance metrics for the third quarter 2014 in year-over-year measurements, according to data from STR, Inc.
The industry's occupancy increased 3.8 percent to 70.3 percent; average daily rate rose 5.2 percent to US$117.91; and revenue per available room was up 9.2 percent to US$82.93. Demand increased 4.8 percent during the third quarter, while supply was up 0.9 percent.
“Third-quarter RevPAR growth of 9.2 percent was the highest quarterly growth rate since the first quarter of 2006 and the highest third-quarter growth STR has ever recorded,” said Bobby Bowers, senior VP of operations at STR. “The strong RevPAR increase was driven primarily by ADR; occupancy also increased at a healthy 3.8-percent clip. Third-quarter occupancy was the highest quarterly occupancy number since the third quarter of 1997. STR anticipates full-year 2014 U.S. industry RevPAR growth of around 7 percent.”
Among the Top 25 Markets, Atlanta, Georgia (+9.8 percent to 71.8 percent), and New Orleans, Louisiana (+9.1 percent to 64.3 percent), reported the largest occupancy increases.
Five markets achieved double-digit ADR increases: Seattle, Washington (+13.2 percent to US$158.70); Nashville, Tennessee (+11.9 percent to US$115.63); Denver, Colorado (+11.8 percent to US$119.47); San Francisco/San Mateo, California (+11.1 percent to US$226.92); and Boston, Massachusetts (+10.8 percent to US$186.52).
New Orleans recorded the largest RevPAR increase, rising 18.0 percent to US$79.35. Five other markets experienced RevPAR increases of more than 15.0 percent: Nashville (+17.3 percent to US$86.67); Atlanta (+17.2 percent to US$67.88); Seattle (+16.2 percent to US$141.96); Denver (+15.9 percent to US$102.03); and Boston (+15.6 percent to US$162.16).
None of the top markets experienced a decrease in any of the three key performance metrics during the third quarter.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
