The U.S. hotel industry reported year-over-year increases in all three key performance metrics for the fourth quarter of 2012, according to STR. The industry’s occupancy increased 2.4 percent to 56.6 percent, average daily rate rose 4 percent to $106.54, and revenue per available room was up 6.5 percent to $60.34.
As the U.S. hotel industry enters its fourth year of recovery, STR said it anticipates another good year in 2013 with full year RevPAR growth in the 5.5 percent to 6 percent range.
TravelClick, which tracks reserved bookings, says that committed occupancy through July 2013 is up 3.9% while ADR is up 4.1% year-on-year for North American hotels. The TravelClick numbers (from their September 2012 North American Hospitality Review) predict even stronger 2013 gains than STR’s most recent forecasts.
TravelClick also found that individual business and leisure travelers are making hotel reservations further in advance, indicating that they have a higher price tolerance and are planning further ahead.
(Credit for a part of this article goes to a Jan 24 article on travelpulse.com by Claudette Covey)
I’m so glad we’re in this growing industry, and I’m happy for all of our team members and investors that we are poised to grow with it! Dave Hogg