Luxury hotel gains outpace rest of market

The average daily rate for hotels nationwide remained relatively flat for the week ending Oct. 9, compared to a week earlier, data from Smith Travel Research showed. The ADR climbed just 2.2 percent week-over-week, according to Hotel News Now, reaching $101.58. The revenue per available room showed more considerable gains, climbing 8.8 percent week-over-week to $64.62. The luxury segment, however, showed significant increases in its ADR and revpar, increasing 7.7 percent to $261.43 and 13.8 percent to $190.93, respectively. The luxury segment was the only part of the market to seen an ADR increase of more than 5 percent. Occupancy across the entire market climbed 6.5 percent last week, reaching 63.6 percent. TRD

Sign Up for the undefined Newsletter