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STR: US hotel performance for November 2014

Overall, in year-over-year results, the U.S. hotel industry’s occupancy was up 2.5 percent to 58.7 percent; its average daily rate rose 4.5 percent to US$112.52; and its revenue per available room increased 7.1 percent to US $66.09.
HENDERSONVILLE, TENNESSEE — The U.S. hotel industry reported positive results in the three key performance metrics during November 2014, according to data from STR, Inc.
 
Overall, in year-over-year results, the U.S. hotel industry’s occupancy was up 2.5 percent to 58.7 percent; its average daily rate rose 4.5 percent to US$112.52; and its revenue per available room increased 7.1 percent to US $66.09.
 
In November, room demand grew by 3.4 percent, the slowest growth rate since January of this year,” said Jan Freitag, senior VP of strategic development at STR. “This month shows what power a single day in a calendar shift can have, as this November had one more Sunday and one less Friday than last year. Substituting the highest-demand day of the week for the lowest can have a visible effect on performance. Supply change grew by 0.9 percent this month. The combination of muted supply and demand growth led to continued occupancy increases of 2.5 percent to 58.7 percent. ADR increased by 4.5 percent this month, as we expected. November’s actual ADR was the highest of any November ever recorded. This resulted in the 57th month of consecutive RevPAR growth (+7.1 percent), and we see no real signs of anything but healthy growth until 2017.
 
Of the Top 25 Markets, nine reported double-digit RevPAR increases: Anaheim/Santa Ana, California (+16.9 percent to US$91.96); Chicago, Illinois (+16.4 percent to US$97.01); Seattle, Washington (+15.2 percent to US$88.75); Nashville, Tennessee (+15.0 percent to US$79.36); Boston, Massachusetts (+14.8 percent to US$131.04); Washington, D.C. (+11.5 percent to US$92.73); Phoenix, Arizona (+10.9 percent to US$73.68); Orlando, Florida (+10.8 percent to US$70.87); and Denver, Colorado (+10.6 percent to US$71.66).
 
Chicago led the ADR increases, up 12.8 percent to US$144.04, followed by Boston (+12.1 percent to US$182.45) and Nashville (+10.8 percent to US$117.99).
 
Seattle (+6.9 percent to 69.3 percent) and Anaheim/Santa Ana (+6.8 percent to 70.8 percent) achieved the largest occupancy increases. St. Louis, Missouri-Illinois, experienced the largest decrease, falling 3.6 percent to 56.9 percent.
 
San Francisco/San Mateo, California, experienced the largest decrease in RevPAR and ADR. The market’s RevPAR decreased 2.7 percent to US$149.17, while its ADR was down 1.4 percent to US$190.83.
 
Vicky Karantzavelou
Co-Founder & Chief Editor - TravelDailyNews Media Network | Website

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.

She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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