Hotel RevPAR Fell in June for Second Time in 112 Months, says STR
Revenue per available room (RevPAR) fell for just the second month in the past 112, according to the June report from STR, the lodging industry data company. The other negative month was last September, due mostly, said STR, to “difficult-to-match” levels from the post-hurricane time period the previous year. Occupancy also fell – 1.3 percent to 73.5 percent – while average daily rate (ADR) rose 0.9 percent to $134.52. Jan Freitag, STR’s senior vice president of lodging insights, said the negative RevPAR figure does not mean the growth cycle has ended but was partly attributable to one less Friday than last June – with an additional Sunday instead, traditionally a less busy day. In fact, he said, the industry set a June demand record and achieved the second-highest June occupancy level of all time. However, continued supply growth and lack of pricing confidence, said Freitag, continue to hinder the potential for any meaningful growth.