STR: U.S. RevPAR rose 9.2% in 3rd quarter
Oct 28, 2014
STR reports that revenue per available room in the U.S. grew by 9.2% to $82.93 in the third quarter amid a 3.8% rise in occupancy and a 5.2% increase in average daily rate. Demand growth overtook supply during the quarter, rising 4.8% against a 0.9% increase in supply.
U.S. hotel-room demand accelerated during the third quarter as cities such as New Orleans, Nashville and Atlanta recorded the highest growth rates, according to STR.
Revenue per available room (RevPAR) advanced 9.2%, the highest year-over-year growth rate in more than eight years, as room rates rose 5.2% to almost $118, while occupancy advanced 3.8% to more than 70%.
New Orleans RevPAR jumped 18%, while Nashville and Atlanta’s RevPAR each rose 17%. No major U.S. market had a decline in RevPAR. Through June, U.S. RevPAR had been up 7.5%.
Get the full story at Hotel Management
