Smith Travel Research's newest report on the U.S. travel industry shows that occupancy increased 3.8 percent to 70.3 percent for Q3, 2014. The report also shows that average daily rate (ADR) rose 5.2 percent to $117.91, while revenue per available room (RevPAR) was up 9.2 percent to $82.93. Demand also increased 4.8 percent during the third quarter, while supply was up .9 percent.
Within the top 25 U.S. markets, Atlanta, Ga., (up 9.8 percent to 71.8 percent); and New Orleans, La., (up 9.1 percent to 64.3 percent) saw the largest increases in occupancy.
“September proved to be even stronger than August, with overall year-over-year RevPAR growth the second highest of the year,” Carter Wilson, director of STR Analytics, STR’s sister company, told Travel Daily News. “Supply nudged down to just under 1 percent, while nearly 98 million roomnights were sold in September, the highest-ever recorded in that month."
Wilson also told Travel Daily News that demand growth in September saw a boost from group business, which was up 8.6 percent for the month, the second-highest increase of the year. "While transient demand was flat, transient rates surged 6.9 percent," Wilson said. "Overall, however, group demand dominated in September, with a total monthly RevPAR increase of 13.3 percent compared to last year.”
The Khaleej Times reported that occupancy in the Middle East/Africa region increased 3.6 percent to 62.8 percent during the first nine months of this year. ADR also rose 1.9 percent to $161.62 while RevPAR increased 5.7 percent to $101.48. In September, in year-over-year comparisons, the region reported a 13.1-per cent increase in occupancy to 65.5 per cent, a 1.3-per cent increase in average daily rate to $145.12 and a 14.5-per cent increase in revenue per available room to $94.99.
Meanwhile, hotels in Southeast Asia saw lower occupancy numbers in September, led by declines in Thailand, Indonesia and Vietnam, according to TTR Weekly.
Bangkok hotels fell the most at 11.6 percent, and also posted the only double-digit RevPAR decrease of 11.0 percent, giving the city an average rate of $59.40 USD. The Asia Pacific region’s total occupancy rose 0.9 percent to 69.2 percent, while its ADR fell 2.2 percent to $112.31. The region's RevPAR was down 1.3 percent to $77.67.