Continental Hotel Occupancy Still Rising, Shining
Even after several years of revenue and occupancy gains, new hotel construction and brand rollouts, U.S. hotel occupancy is still increasing as North American hoteliers in general see widespread gains in bookings across all travel segments.
TravelClick, a leading global provider of data and revenue-generating solutions for hoteliers, today released new data from the company’s January 2018 North American Hospitality Review (NAHR). According to this data, North American hoteliers are starting the New Year with gains across all travel segments in the first quarter of 2018, up 0.7 percent in average daily rates (ADR) and up 2.1 percent in bookings.
The transient leisure segment in particular stands out during the first quarter, with bookings up an impressive 6.8 percent and strong revenue per available room (RevPAR), up 7.3 percent.
“The inconsistency that most hoteliers experienced throughout 2017 has substantially subsided in recent months, proving that 2018 is already off to an encouraging start,” said John Hach, senior industry analyst, TravelClick. “There is a healthy balance of group, transient leisure and business demand, which shows sustainability throughout the upcoming year.”
Diving into U.S. hotel occupancy in specific, TravelClick reports positive year-over-year results in three key performance metrics during the week of January 28 through February 3, 2018, according to data from STR.
In comparison with the week of 29 January through 4 February 2017, the industry recorded the following:
- Occupancy: +1.4% to 56.4%
- Average daily rate (ADR): +2.2% to $122.35
- Revenue per available room (RevPAR): +3.6% to $69.05
Super Bowl LII host, Minneapolis/St. Paul, Minnesota-Wisconsin, reported the largest increase among Top 25 Markets in each of the three key performance metrics: occupancy (+38.3% to 72.5%), ADR (+129.1% to $241.98) and RevPAR (+216.9% to $175.51).
Seattle, Washington, posted the only other double-digit lift in ADR (+15.7% to $152.30), which resulted in the second-highest jump in RevPAR (+20.1% to $104.17).
More detailed information is available at str.com.