Overall, in year-over-year results, the U.S. hotel industry’s occupancy was up 4.8 percent to 52.6 percent; its average daily rate rose 4.3 percent to US$113.42; and its revenue per available room increased 9.3 percent to US$59.62.
HENDERSONVILLE, TENNESSEE – The U.S. hotel industry reported positive results in the three key performance metrics during December 2014, according to data from STR, Inc.
Overall, in year-over-year results, the U.S. hotel industry’s occupancy was up 4.8 percent to 52.6 percent; its average daily rate rose 4.3 percent to US$113.42; and its revenue per available room increased 9.3 percent to US$59.62.
“The U.S. hotel industry ended 2014 with a bang. The December occupancy of 52.6 percent is the highest December occupancy ever recorded in STR’s history,” said Jan Freitag, senior VP of strategic development at STR, Inc. “Demand for the month was 5.8 percent higher than last year, and Interstate and Suburban hotels even reported demand increases of more than 6 percent. In addition, ADR increased 4.3 percent, basically on par with the last few years.”
Eleven of the Top 25 Markets reported double-digit RevPAR growth. San Francisco/San Mateo, California, reported the highest RevPAR growth of the markets, rising 29.1 percent to US$149.29. Nashville, Tennessee, followed with 21.0-percent RevPAR growth to US$67.25. New Orleans, Louisiana, reported the largest RevPAR decrease for the month, falling 3.3 percent to US$79.97.
Two markets reported double-digit ADR growth: San Francisco/San Mateo (+21.5 percent to US$194.94) and Nashville (+10.4 percent to US$112.36). New Orleans fell 4.8 percent to US$136.11 in ADR, reporting the largest decrease in that metric.
Nashville topped the markets for occupancy growth (+9.7 percent to 59.9 percent) during the month. Phoenix, Arizona, followed with 8.7-percent occupancy growth to 55.9 percent. Minneapolis/St Paul, Minnesota-Wisconsin, reported the largest occupancy decrease, falling 1.5 percent to 50.2 percent during the month.
US hotel performance for year-end 2014
The U.S. hotel industry reported positive results in the three key performance metrics during 2014. Overall, in year-over-year results, the U.S. hotel industry’s occupancy was up 3.6 percent to 64.4 percent; its average daily rate rose 4.6 percent to US$115.32; and its revenue per available room increased 8.3 percent to US$74.28.
“The U.S. hotel industry experienced a great year and ended 2014 on a positive note,” said Amanda Hite, president and COO of STR, Inc. “The year’s performance broke several records thanks to continued strong demand growth.
“ADR and RevPAR for the year were the highest ever recorded by STR, and we expect more growth in 2015,” she added, noting that the company is forecasting a 5.2-percent increase in ADR and a 6.4-percent increase in RevPAR for the year.
Twelve of the Top 25 Markets reported double-digit RevPAR increases. Topping out the list were: Nashville, Tennessee (+19.0 percent to US$84.20); Denver, Colorado (+16.2 percent to US$84.86); and Atlanta, Georgia (+13.1 percent to US$62.66).
Two markets reported double-digit ADR increases: Nashville (+12.8 percent to US$116.86) and San Francisco/San Mateo, California (+10.9 percent to US$207.81).
Atlanta, Georgia, reported the highest occupancy increase for the year, rising 8.1 percent to 68.2 percent. Denver followed with a 6.5-percent increase to 75.4 percent.
None of the Top 25 Markets reported decreases in the three key performance metrics for the year.
Quarterly results
STR, Inc. also released U.S. performance results for the fourth quarter of 2014. The industry reported positive results in the three key performance metrics during the quarter.
In year-over-year measurements, the overall U.S. hotel industry saw an increase in occupancy of 4.2 percent to 59.8 percent. ADR increased 4.5 percent to US$115.14, while RevPAR was up 8.9 percent to US$68.87 during the quarter.
Among the Top 25 Markets, Washington, D.C.-Maryland-Virgina, led in occupancy with a 7.3-percent increase to 63.4 percent. Nashville led in both ADR and RevPAR, with ADR growing by 12.0 percent to US$119.64 and RevPAR finishing up 20.0 percent to US$82.61.
Tatiana is the news coordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes monitoring the hundreds of news sources of TravelDailyNews Media Network and skimming the most important according to our strategy.
She holds a Bachelor's degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.
