The U.S. hotel industry registered record-breaking performance levels during 2017, according to data from STR.
Compared with 2016:
- Occupancy: +0.9% to 65.9%
- Average daily rate (ADR): +2.1% to US$126.72
- Revenue per available room (RevPAR): +3.0% to US$83.57
The absolute values in those three key performance metrics were each the highest STR has ever benchmarked.
Among the Top 25 Markets, Houston, Texas, reported the year’s largest spike in RevPAR (+10.5% to US$71.97), due primarily to the largest increase in occupancy (+7.1% to 66.7%). The market’s performance was lifted late in the year as the effects of Hurricane Harvey filled hotels with displaced residents, relief workers, insurance adjustors and other hurricane-related demand.
Nashville, Tennessee, posted the largest rise in ADR (+6.2% to US$142.82) despite a supply-growth-related decline in occupancy (-0.8% to 74.1%).
Orlando, Florida, reported the only other double-digit jump in RevPAR (+10.0% to US$96.40), due to the second-highest increases in occupancy (+4.9% to 79.3%) and ADR (4.8% to US$121.53).
Dallas, Texas, experienced the largest drop in occupancy (-2.5% to 69.6%).