A good week for U.S. hotel industry

TRD New York /
Sep.September 10, 2010 03:30 PM

U.S. hotel performance improved last week, with occupancy, average daily rates and revenue per available room all up from their levels during the same period last year, according to the latest data from Smith Travel Research. Average daily rates rose 2.1 percent to $94.37 in the 13th-straight week of increases for this metric after more than a year-and-a-half of steady declines. The continued rise in daily rates, said Chad Church, director of special services at STR, is evidence that “the industry trusts the positive demand trends that emerged earlier in the year.” New York City saw the largest increase in average daily rates — a 13 percent uptick to $217.32 — and was followed by Orlando, Fla., which saw a 9.9 percent increase to $74.89. In more welcome news for the industry, occupancy rose in each of the top 25 hotel markets and by 7.5 percent nationwide to 57.4 percent. Revenue per available room, or revpar, also rose 9.7 percent overall, to $54.16. TRD

 

Related Articles

arrow_forward_ios
Alchemy ABR's Kenneth Horn and Brian Ray with 123-141 West 57th St (Credit: Alchemy ABR and Google Maps)

Developer behind Woolworth conversion planning Billionaires’ Row office tower

St. Luke Baptist Church at 1916 Park Avenue (Credit: Google Maps and iStock)

Harlem church accuses real estate firm of “Old Testament Vengeance” in $20M lawsuit

From left: 195 Bond Street in Boerum Hill, 182-184 Avenue A in the East Village, and 74-16 Grand Avenue in Elmhurst (Credit: Google Maps)

Here’s what the $10M-$20M NYC investment sales market looked like last week

UES church sells York Ave home to Weill Cornell for $68M

UES church sells York Ave home to Weill Cornell for $68M

Billionaire cuts $10M deal to build new residential building on Harlem church site

Billionaire cuts $10M deal to build new residential building on Harlem church site

Can NYC’s aging hotel boom find new life?: Q&A, part II

Can NYC’s aging hotel boom find new life?: Q&A, part II

Placeholder image

Hotelier buys St. Vincent de Paul, two other buildings for $50M

The Serbian Orthodox Cathedral of St. Sava before and after the fire (image credit Beyond My Ken and Boarder143 via WIki Commons)

Reconstruction possible at flame gutted Serbian Orthodox Cathedral

arrow_forward_ios
Loading...