US Hotel Industry Performance Improves

18th January 2011 (Last Updated January 18th, 2011 18:30)

The US hotel industry reported single-digit gains in three key performance metrics for the week ending 8 January 2011 compared with the same week last year, according to a new STR Global report. The report reveals that in year-over-year comparisons occupancy increased by 5.7% to s

The US hotel industry reported single-digit gains in three key performance metrics for the week ending 8 January 2011 compared with the same week last year, according to a new STR Global report.

The report reveals that in year-over-year comparisons occupancy increased by 5.7% to stand at 42.8%, the average daily rate increased by 2% to $93.43, and revenue per available room (revPAR) increased by 7.8% to $40.

Among the top 25 markets, New Orleans, Louisiana, registered the largest increases in all three metrics, reporting an occupancy rise of 66.4%, ADR was up 34.5% to $133.24, and revPAR increased by 120.9% to $88.41.