Because of Memorial Day, the US hotel industry reported lower performance results compared with the previous week but slightly positive comparisons year over year, according to the latest results from the data provider CoStar.
For the week of May 26-June 1, results were:
- Occupancy: 62% (up 0.9%)
- Average daily rate (ADR): $150.87 (up 0.1%)
- Revenue per available room (RevPAR): $93.50 (up 1%)
Among the Top 25 Markets, New Orleans saw the highest year-over-year occupancy lift (up 17.8% to 66.8%). Las Vegas reported the largest increase in ADR (up 7.4% to $177.13). Dallas reported the largest jump in RevPAR (up 22.5% to $86.07) and the second-highest increase in ADR (up 6.9% to $120.55).
The steepest RevPAR declines were seen in Washington, DC (down 10.3% to $105.24) and Denver (down 7.6% to $93.92).
In a further indication of a strengthening business travel pattern as leisure has softened, RevPAR showed robust growth on Tuesday and Wednesday of the week, with that measure increasing 5.9% and 4.8%, respectively.
Occupancy led the gain, but ADR was also on the rise (up 2.1% in each of the two days). Over the last four weeks, weekday (Monday-Wednesday) RevPAR has grown by 6.9% nationwide and 10.4% in the Top 25 Markets. However, as seen in many weeks this year, weekend RevPAR fell by more than 1.7%, mostly due to a drop in occupancy.
Image: Shutterstock
