Hotel Industry Improves for 13th Straight Week
HENDERSONVILLE, Tennessee -- "The U.S. hotel industry reported increases in all three key performance metrics during the week of 29 August-4 September 2010, according to data from STR. In year-over-year comparisons, occupancy increased 7.5 percent to 57.4 percent, average daily rate (ADR) was up 2.1 percent to $94.37, and revenue per available room rose 9.7 percent to $54.16.
This was the 13th consecutive week the U.S. reported overall ADR increases. Before this trend emerged, ADR decreased 74 of the past 76 weeks. “Thirteen consecutive weeks of ADR improvement show that the industry now trusts the positive demand trends that emerged earlier in the year,” said Chad Church, director of special services at STR. “Hoteliers have raised their rates, and the consumer continues to travel."
HT: Calculated Risk