THE THIRD WEEK of November brought increases in occupancy, RevPAR and ADR, according to STR. The news comes after the previous month saw declines in all three categories.
Occupancy jumped 17.7 percent to 61.2 percent during the week of Nov. 17 to 23. ADR and RevPAR increased 10.8 percent to $124.71 and 30.4 percent to $76.32 respectively.
In October occupancy declined 0.8 percent to 63.9 percent while ADR was down 0.5 percent to $133.34 and RevPAR decreased 1.3 percent to $92.35. It was the first time RevPAR decreased in consecutive months since December 2009 to January 2010, said Carter Wilson, STR’s senior vice president of consulting and analytics.
The recent increase is due to the year-over-year comparison with the week of Thanksgiving 2018, STR analysts said.
Among the top 25 markets, San Francisco/San Mateo, California, recorded the largest increases – occupancy up 57.9 percent to 84.2 percent, ADR up 143.3 percent to $376.17 and RevPAR up 284.2 percent to $316.80.
The STR analysis shows that the city’s gains also are attributable in part to Dreamforce as it welcomed approximately 170,000 attendees.
Washington, D.C. experienced the second-highest increase in occupancy and ADR, up 55.8 percent to 70.9 percent and up 48 percent to $157.32. This resulted in the second-largest jump in RevPAR, up 130.7 percent to $111.49.
Denver saw the third-largest increase in RevPAR, up 97.1 percent to $95.21.
None of the top 25 markets experienced an occupancy decrease. The only decline in RevPAR was reported in New Orleans with a 2.6 percent decline to $88.86, due to the second-largest drop in ADR, down 5.3 percent to $136.29.
Miami/Hialeah, Florida, reported the only other decrease in ADR, down 6.7 percent to $166.87.