October U.S. Group Hotel Rates Up by More Than 3 Percent
The average daily rate for groups at U.S. hotels rose 3.1 percent year-over-year for the month of October, according to data provided by STR. That was despite a continued decline in group occupancy, which was down by about 3 percent. The transient average daily rate exceeded the group growth by a tad, rising by 3.5 percent and contributing to an overall ADR increase of 3.3 percent in October. Overall occupancy was up slightly, by 0.8 percent, while overall revenue per available room grew by 4.1 percent. The government shutdown, which occurred during the first half of the month, was likely a contributing factor to softer demand, according to STR senior vice president Jan Freitag. The only top-25 market to post double-digit average daily rate growth was Oahu Island, Hawaii, which climbed by 11.6 percent to $201.12.