October Hotel Occupancy, Rates Up Across Americas
Hotels in the Americas region reported a strong October performance, according to STR Global, led by a 5 percent year-over-year surge in occupancy. Average daily rate grew by 4.1 percent, to $119.50, and revenue per available room by an impressive 9.3 percent. The only double-digit occupancy increase among the region's major markets was reported by Washington, D.C., which rose by 10.5 percent. The steepest average daily rate gains were experienced in San Francisco (up 12.3 percent) and Mexico City (up 11.8 percent). Those markets were among the leaders in RevPAR gains, as well, which included Mexico City (up 13.5 percent), Los Angeles (up 11.8 percent), San Francisco (up 10.9 percent) and Washington, D.C. (up 10.9 percent). The biggest performance decreases were felt in Rio de Janeiro, Brazil, which had the steepest drops in all three metrics.