Among the Top 25 Markets, Denver, Colorado, reported the largest occupancy increase, rising 11.4 percent to 64.8 percent. Philadelphia, Pennsylvania-New Jersey, followed with an 11.1-percent increase to 57.0 percent in occupancy.
HENDERSONVILLE, TENNESSEE – The U.S. hotel industry reported positive results in the three key performance metrics during January 2014, according to data from STR.
Overall, the U.S. hotel industry’s occupancy was up 2.3 percent to 52.2 percent. Its average daily rate rose 2.9 percent to US$109.24, and revenue per available room increased 5.3 percent to US$57.02.
“2014 started pretty strong, with RevPAR up 5.3 percent,” said Jan Freitag, senior VP of strategic development. “Compared to last year’s January an additional weekend day (Friday) added favorable impact on results. Occupancy grew 2.3 percent, but this is well below the growth rate of 3.7 percent achieved in January 2013. ADR growth also slowed, 2.9 percent this January versus 5.3 percent in January 2013. RevPAR was driven by ADR growth, as usual. Supply this month grew 0.9 percent, which is a monthly sequential increase of 0.1 percent since August of 2013. We expect this trend to continue, and this year will be characterized by a steady inching up of the pipeline growth rate.”
Among the Top 25 Markets, Denver, Colorado, reported the largest occupancy increase, rising 11.4 percent to 64.8 percent. Philadelphia, Pennsylvania-New Jersey, followed with an 11.1-percent increase to 57.0 percent in occupancy. Washington, D.C. (-6.6 percent to 49.2 percent) and New York, New York (-4.0 percent to 71.4 percent) experienced the largest occupancy decreases for the month.
San Francisco/San Mateo, California, was the only market to report a double-digit ADR increase, rising 11.9 percent to US$187.21.
Four markets experienced RevPAR increases of more than 15 percent: San Francisco/San Mateo (+19.3 percent to US$133.55); Philadelphia (+17.9 percent to US$65.72); Denver (+16.5 percent to US$64.93); and Los Angeles/Long Beach, California (+15.2 percent to US$107.53).
Washington, D.C., reported the largest decrease in both ADR (-17.6 percent to US$125.08) and RevPAR (-23.0 percent to US$61.59).
Monthly Hotel Report – Total United States – January 2014
Photo caption: The Broadmoor Colorado Springs.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
