by Michael J. Shapiro | April 25, 2013

Hotels in the Americas posted solid performance results for March, according to data compiled by STR and STR Global. While occupancy merely inched up by 0.2 percent year-over-year for the region, average daily rate grew by 3.9 percent and revenue per available room was up by 4.1 percent. Miami posted the largest increases across the board: Occupancy grew by 4.1 percent, to 89.1 percent; average daily rate skyrocketed by 14.4 percent, to $238.12, the only double-digit rate increase in the region; and RevPAR was up by 19.1 percent, to $212.20. Two other markets in the Americas enjoyed double-digit RevPAR growth for the month: New York City was up by 12.4 percent, and San Francisco increased by 10.9 percent. For the region, first-quarter gains outpaced those for the month. Occupancy was up by 1.6 percent over Q1 2012, average daily rate increased by 4.2 percent and RevPAR was up 5.9 percent.