STR Reports US Hotel Performance for Week Ending May 29, 2010

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. June 07, 2010

June 4, 2010 - Smith Travel Research In year-over-year measurements, the industry's occupancy increased 19.1 percent to 61.3 percent. Average daily rate was up 4.3 percent to US$97.21. Revenue per available room rose 24.2 percent to US$59.56.

The U.S. hotel industry reported increases in all three key performance measurements during the week of 23-29 May 2010, according to data from STR.

In year-over-year measurements, the industry's occupancy increased 19.1 percent to 61.3 percent. Average daily rate was up 4.3 percent to US$97.21. Revenue per available room rose 24.2 percent to US$59.56.

"Performance, especially occupancy percent changes, are way up this week, due mainly to the easy comparables,” said Steve Hood, VP at STR. “Because of the calendar switch, we are comparing the week before Memorial Day this year to the week after Memorial Day last year. If you compare dates relative to Memorial Day, then the occupancy numbers were stronger than 2009, but still generally weaker than 2008 and prior years."

Among the Top 25 Markets, New Orleans, Louisiana, led increases in all three key metrics. The market's occupancy rose 49.4 percent to 66.5 percent, ADR was up 24.0 percent to US$116.88, and RevPAR soared 85.4 percent to US$77.75.

Two markets, excluding New Orleans, reported occupancy increases of more than 40 percent: Nashville, Tennessee (+43.9 percent to 66.1 percent), and Boston, Massachusetts (+43.7 percent to 83.0 percent). Orlando, Florida, reported the only decrease in occupancy, falling 0.8 percent to 55.6 percent.

New York, New York, rose 21.8 percent in ADR to US$229.06, followed by San Francisco/San Mateo, California (+17.3 percent to US$135.19), and Washington, D.C. (15.8-percent increase to US$145.16). Orlando dropped 21.2 percent to US$83.15, reporting the largest ADR decrease.

In addition to New Orleans, three markets experienced RevPAR increases of more than 50 percent: Boston (+63.9 percent to US$130.63); Washington, D.C. (+52.1 percent to US$111.78); and Dallas, Texas (+51.7 percent to US$55.02). Orlando reported the only RevPAR decrease, falling 21.8 percent to US$46.22.

About STR
STR provides clients—including hotel operators, developers, financiers, analysts and suppliers to the hotel industry—access to hotel research with regular and custom reports covering North America, Mexico and Caribbean. STR provides a single source of global hotel data covering daily and monthly performance data, forecasts, annual profitability, pipeline and census information. STR founded the STR family of companies and is proudly associated with STR Global, RRC Associates, STR Analytics, and HotelNewsNow.com. For more information, please visit www.str.com.