STR: U.S. hotels see performance growth in November

Photo credit: Pixabay/Gerd Altmann

The U.S. hotel industry reported positive results in the three key performance metrics during November 2019, according to data from STR.

In a year-over-year comparison with November 2018, the industry saw occupancy increase 0.3 percent to 61.8 percent. Average daily rate grew 1 percent to $125.55, while revenue per available room was up 1.3 percent to $77.62.

“A sign of the times, this was the first month since July with increases across the three [key performance indicators],” Jan Freitag, STR’s senior VP of lodging insights, said in a release. “Each of the performance metrics reached a record absolute level for a November, but overall performance growth was well below the long-term average. We’re projecting RevPAR increases of less than 1 percent for both 2019 and 2020—those will be the worst year-over-year comparisons in the metric since the recession. Regardless, any growth is still a positive.”

Among the top 25 markets, San Francisco/San Mateo, Calif., registered the largest jump in RevPAR (+21.5 percent to $203.61), due to the only double-digit lift in ADR (+14.2 percent to $259.80) and the highest rise in occupancy (+6.3 percent to 78.4 percent).

Anaheim/Santa Ana, Calif., posted the second-largest increases in ADR (+7.5 percent to $159.41) and RevPAR (+10.5 percent to $119.51). Overall, 15 of the top 25 markets recorded a RevPAR increase.

Boston saw the steepest decline in each of the three key performance metrics: occupancy (-10.5 percent to 69.4 percent), ADR (-7 percent to $183.53) and RevPAR (-16.8 percent to $127.33).

New York reported the second-largest drop in ADR (-6.1 percent to $267.94), which resulted in the second-steepest decrease in RevPAR (-7.2 percent to $232.85).