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US hotels report increases in key areas
The US hotel industry last month reported increases in all three key performance metrics, according to data from STR.
They included occupancy, a rise of 3.5 percent to 57.4 percent; a rise in average daily rates of 4% to $103.28, and an increase in revenue per available room (revPAR) of 7.7% to $59.21
"The notable February RevPAR growth rate was fueled by both occupancy and ADR gains," STR President Amanda Hite said.
ԬAmong the Top 25 Markets, Houston, Texas, had the largest occupancy increase, rising 11.9% percent to 68.7%, followed by Nashville, Tennessee, with a 9.5% increase to 60.2%. Ԭ
Three markets experienced RevPAR increases of more than 15%: San Francisco/San Mateo (20.5% percent to $123.80); New Orleans (19.7% to $102.76); and Houston (17.4% to $66.96).
By David Wilkening
David
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