STR Global: Hotels Get Fuller Globally In August, But Rate Performance Is Mixed
ADR in the Americas increased 4 percent to $113.89 in August, and occupancy increased by 2.3 percent to 69.3 percent. In the United States, ADR increased by 4.5 percent to $112.14, and occupancy was up 2.3 percent to 69.2 percent. Luxury hotels in the United States had an especially strong month, with occupancy reaching 77.1 percent and ADR up 7.9 percent to $274.36, according to STR vice president of strategic development Jan Freitag.
Markets in the region with the largest ADR increases included San Francisco (up 13.9 percent to $205.01), Oahu (up 13.7 percent to $224.02), Seattle (up 11.2 percent to $145.40), Miami (up 10.6 percent to $139.29) and Anaheim/Santa Ana (up 10 percent to $143.99). The largest ADR decreases were in Tampa/St. Petersburg (down 20.9 percent to $91.40) and Panama City, Panama (down 6.4 percent to $103.52).
In Europe, August occupancy increased 4.4 percent year over year to 74.2 percent. ADR as measured in U.S. dollars was up 2.5 percent to $137.22, but measured in euros, it decreased 2.9 percent to ?103.72. ADR in euros was up in Southern Europe but down in the other three sub-regions, according to STR Global managing director Elizabeth Winkle. A few European markets had significant ADR increases in August, including Copenhagen (up 15.8 percent to ?122.57); Vilnius, Lithuania (up 14.1 percent to ?54.08); Tallinn, Estonia (up 14 percent to ?75.75; and Amsterdam (up 11.1 percent to ?116.56). London, which faced comparisons from last year’s Summer Olympics, had Europe’s largest ADR decrease: down 23.1 percent to ?154.
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