Thursday, July 30, 2009

RevPAR continues down...

Hotel RevPAR down over 16 points...

Among the Top 25 Markets, New Orleans, Louisiana, reported the largest occupancy increase, up 4.7 percent to 70.4 percent. Nashville, Tennessee (+0.9 percent to 64.4 percent) and Oahu Island, Hawaii (+0.9 percent to 84.9 percent) were the only other markets to experience an occupancy increase. Detroit, Michigan, reported the largest occupancy decline, falling 18.5 percent to 55.0 percent, followed by St. Louis, Missouri-Illinois (-16.4 percent to 63.7 percent).

Atlanta, Georgia, came in virtually flat for the week with a 0.5-percent decrease in ADR to US$89.36, reporting the smallest decrease among the top markets. New York, New York, experienced the largest ADR decrease, falling 28.3 percent to US$187.59. Two other markets posted ADR declines of more than 15 percent: Oahu Island (-16.5 percent to US$153.10) and San Francisco/San Mateo, California (-16.2 percent to US$131.43).

Two of the Top 25 Markets reported RevPAR decreases of less than 5 percent: Atlanta (-4.1 percent to US$54.90) and New Orleans (-2.5 percent to US$69.90). New York experienced the largest RevPAR decline, dropping 33.1 percent to US$157.45, followed by St. Louis (-26.4 percent to US$51.12) and Detroit (-26.4 percent to US$43.02).

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