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New York

Hotel revpar surges in April, but NYC lags

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U.S. hotels had a strong first week of April, highlighted by the upper-upscale segment which saw occupancy rates surge 9.2 percent, daily rates increase 7.4 percent and revenue per available room soar 17.4 percent, according to Smith Travel Research. Across all markets, occupancy rose 4.8 percent to 62 percent, and the average daily rate increased 4.7 percent to $101.22. In addition to the upper-upscale market, the luxury market and the upscale market achieved double-digit increases in revpar. No market segment saw statistically significant decreases in daily rates. While many of the top-25 regional markets experienced large occupancy increases, New York City experienced the largest decline, falling 3.6 percent to 80.4 percent. So far this year, revpar is up 9.8 percent in the U.S., room rates are increasing 4.7 percent and occupancy is climbing 4.8 percent. TRD

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