According to recent press reports from STR, all key performance metrics of the U.S. hotel industry rose sharply during the week of 1-7 May 2011.
Overall, the industry’s occupancy rose 6% to 60.3%, its average daily rate increased 4.8% to $101.73, and its revenue per available room finished the week up 11.1% to $61.31. The strongest of these gains were from the luxury and upper upscale segments, which regained some of their pricing power as guests were again willing to buy luxury, but gains were recorded in all segments.
The primary chain scale segments where Springwood does business – midscale and upscale – both saw jumps in RevPAR. The upscale segment (Homewood Suites, Courtyard) rose 10.1% to hit $78.95 for the week. The midscale segment (Holiday Inn Express, Hampton) saw increases that were were not quite as strong, but still significant.