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.
View the U.S. hotel review for the month of December.
Media Contact:
Jeff Higley
VP, Digital Media & Communication
jeff@str.com
+1 (615) 824 8664 ext. 3318