Tuesday, April 22, 2014 – REVPAR AT U.S. hotels increased an average of 7.2 percent to $75.31 in March, reports STR.
Occupancy was up 2.9 percent to 65.3 percent and ADR rose 4.1 percent to $155.28, compared to March 2013.
The increases were more the result of two holiday weekends that impacted travel in March 2013 than they were of a revved up market.
“A variety of calendar issues skewed the March results and made the year-over-year comparison look much better than usual,” said Jan Freitag, senior vice president of strategic development at STR. “Last year, the end of March included the beginning of Passover and Easter, two events that meeting planners avoid, and so groups, conferences and meetings were pushed into April 2013.”
Because Passover and Easter occurred in April this year, the metrics for this month will be skewed, coming in lower than usual.
Meantime, RevPAR in March 2014 was again driven by ADR growth, said Freitag. “March results were the highest recorded so far in 2014. Despite the positive calendar comp issue, we see this as a good indicator of prolonged pricing power in the industry.”