Jan 28 2009
STR Report for Week Ending January 17, 2009
The gloom remains in the US Hotel Industry, which posted declines in all three key performance measurements yet again for the week ending January 17th, 2009, according to data from STR.
Year-over-year measurements revealed a decline in room occupancy by 12.9 percent, with average daily daily rates dropping 4.0 percent. RevPAR decreased 16.4 percent.
“It was more of the same,” said Brad Garner, vice president of operations/client services at STR. “The economy is battering the hotel industry.”
“We are mildly disappointed by the performance of the Middle Atlantic and Southeast regions where we thought there would be more of an uplift heading into Martin Luther King Jr. Day weekend and Inauguration Day,” he added, “but we are still optimistic that we’ll see the true effect of the ‘Obama bounce’ in next week’s results.”
As has been the case, the Luxury segment posted the biggest declines, while the economy segment had the smallest decreases.
