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Weekly U.S. Lodging Performance for the week ending August 16, 2008 |
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The U.S. hotel industry posted declines in the key performance measurements of occupancy and revenue per available room during the week of 10 -16 August 2008, according to data from STR. |
Click here ( Adobe Acrobat PDF file) to download statistics.
In year-over-year measurements, the industry's occupancy fell 4.5 percent to end the week at 68.7 percent. Average daily rate increased 3.0 percent to finish the week at $107.18. RevPAR for the week decreased 1.7 percent to finish at $73.65.
'The U.S. lodging industry experienced another soft week, as occupancy declined 4.5 percent.' commented Bobby Bowers, senior VP of operations at STR. 'Through the first half of August, preliminary numbers indicate that demand (room nights sold) is down, room revenue growth is slowing and supply growth continues.'
Year-over year occupancy change by day ranged from down 4.8 percent to down 4.1 percent. ADR growth ranged from 2.4 percent to 3.6 percent.
About STR & STR Global
For more than 20 years, Smith Travel Research has been the recognized leader for lodging industry benchmarking and research. Smith Travel Research and STR Global offer monthly, weekly, and daily STAR benchmarking reports to more than 36,000 hotel clients, representing nearly 5 million rooms worldwide. STR is headquartered in Hendersonville, Tenn., and STR Global is based in London. For more information, visit www.smithtravelresearch.com or www.strglobal.com.
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