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Hotel Industry News |
Tuesday December 2nd, 2008 |
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Weekly U.S. Lodging Performance for the week ending August 23, 2008 |
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The U.S. hotel industry experienced occupancy and RevPAR declines during the week of 17 - 23 August 2008, according to data from STR. Average daily rate increased. |
Click here ( Adobe Acrobat PDF file) to download statistics.
In year-over-year measurements, the industry's occupancy fell 3.8 percent to end the week at 65.5 percent. Average daily rate increased 3.1 percent to finish the week at $105.75. Revenue per available room for the week decreased 0.8 percent to finish at $69.27.
'Last week was another challenging one for the U.S. lodging industry,' said Bobby Bowers, senior VP of operations at STR. 'Revenue per available room declined slightly, driven by lower occupancy.'
RevPAR declines were focused at the end of the week, with Sunday through Tuesday posting flat to slightly increased RevPAR.
Commenting on the outlook for the month, Bowers added, 'Preliminary August monthly data (through the 23rd) suggests fairly weak occupancy and lower average rate growth.'
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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Contact Information:
Smith Travel Research
735 East Main St
Hendersonville, TN 37075
U.S.A.
Telephone: +1 (615) 824-8664
Fax: +1 (615) 824-3848
Click for Website
Click for Email
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Founded in 1985 as an independent research firm, Smith Travel Research is the recognized leader in providing accurate, actionable information and analysis to the lodging industry. STR operates on the key principals of integrity, confidentiality and customer service.
STR provides information and analysis to all major U.S. hotel chains. |
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