U.S. Hotel Industry Falls Short on Key Performance Measurements

Smith Travel Research (STR) has shared that the U.S. hotel industry posted declines in all three key performance measurements during the week ending October 4, 2008.

As per the latest data from STR, in year-over-year measurements, the industry’s occupancy fell 11.1 percent to end the week at 59.4 percent. Average daily rate declined 2.4 percent to finish the week at $103.90. Revenue per available room for the week dropped 13.2 percent to finish the week at $61.70.

The firm shared that the major concern over the bailout of the US economy “crippled the weekly results across all industry segments”.

The two Top 25 markets posting year-over-year gains in RevPAR were Houston, which was up 52.3 percent primarily as a result of residents of the Gulf Coast displaced by Hurricane Ike, and St. Louis, which was up 8.4 percent due mainly to the vice presidential debate.