US Hotel Industry Shows Positive Results for Third Quarter
By Harvey Chipkin
The US hotel industry reported mostly positive results in the three key performance metrics during the third quarter of 2019, according to data from STR. In a year-over-year comparison with the same period in 2018, the industry posted the following: occupancy down 0.1% to 70.9%; average daily rate (ADR) up 0.8% to $133.25; and revenue per available room (RevPAR) up 0.7% to $94.42. While RevPAR increased slightly, it was the lowest year-over-year percent change in the metric since the first quarter of 2010, and the first quarter during the current cycle to show an increase in the metric below 1%, according to Bobby Bowers, senior vice president of operations. Houston experienced the highest rise in occupancy (up 4.4% to 62.4%). Washington, D.C.-Maryland-Virginia, posted the largest lift in ADR (up 4.0% to $148.43). Two markets matched for the steepest decline in RevPAR: Seattle (down 5.1% to $154.70) and Miami/Hialeah (down 5.1% to $101.68). Seattle reported the largest drop in ADR (down 4.0% to $185.35). Orlando experienced the steepest decrease in occupancy (down 5.% to 69.6%).