During the summer season of June, July and August, the U.S. hotel industry’s occupancy rose 2.4% year-on-year to 69.3%, its ADR increased 4.4% to US$107.37 and its RevPAR was up 7% to US$74.44.
“We continue to be surprised by the consistent growth in demand for hotel rooms,” said Brad Garner, STR’s COO. “While the rate of growth in rooms sold is likely to taper, the industry continues to move into a favorable pricing position. The higher contribution of room rate into RevPAR should lead to higher profitability for the industry at large.”
Supply was up 0.5% during the summer while demand increased 2.9%.