July Hotel RevPAR Jumps 5.5 Percent in Americas
Hotels in the Americas region reported positive performance results for the month of July, according to STR and STR Global. Compared with July 2012, occupancy was up by 1.7 percent, to 71 percent, while the average daily rate increased by 3.8 percent, to US$114.07. Revenue per available rooms grew by 5.5 percent, to US$80.97. Leading the occupancy increases were Vancouver, British Columbia (up 5.9 percent), and Buenos Aires, Argentina (up 5.3 percent). San Francisco scored the highest rate gain, rising 9 percent, to $192.13, followed by Chicago, which reported an 8.4 percent increase, to $131.16. San Francisco and Chicago also led with RevPAR gains of 11.3 percent and 10.2 percent, respectively.