(Hendersonville/Tennessee, USA – September 28, 2012) The U.S. hotel industry reported strong performance increases in the three key performance metrics during summer 2012, according to data from STR. During the summer season—which comprises June, July and August—the U.S. hotel industry’s occupancy rose 2.4 percent to 69.3 percent, its average daily rate increased 4.4 percent to US$107.37, and its revenue per available room was up 7.0 percent to US$74.44.
“We continue to be surprised by the consistent growth in demand for hotel rooms,” said Brad Garner, STR’s COO. “While the rate of growth in rooms sold is likely to taper, the industry continues to move into a favorable pricing position. The higher contribution of room rate into RevPAR should lead to higher profitability for the industry at large.”
Supply was up 0.5 percent during the summer while demand increased 2.9 percent.