Average daily rate and revenue per available room among U.S. hotels in October increased year over year as occupancy fell, according to hotel analytics firm STR.
October U.S. hotel ADR was $161.56, up 3 percent year over year and slightly above September’s $160.18. RevPAR was $106.38 for the month, up 1.2 percent year over year and up slightly from September.
U.S. hotel occupancy in October was 65.8 percent, down 1.8 percent year over year and down from September’s 66.2 percent.
While the U.S. hotel industry in October reported “mixed performance results from the previous month,” according to STR, results among STR’s top 25 markets remained steady.
New York City again reported the highest occupancy level for the month at 86.8 percent, up 3 percent year over year. Houston had the lowest occupancy among the top 25 markets in October at 59.5 percent, with St. Louis next at 59.8 percent.
Additionally, STR’s top 25 markets “showed higher occupancy and ADR than all other markets,” the company said.
[email protected] (Angelique Platas)
Source link
