U.S. Hotels Report Strong RevPAR Growth for June
Revenue per available room jumped by 7.2 percent year-over-year in June for the U.S. hotel industry, with 10 of the top 25 markets reporting gains in the double digits. Leading the pack was Nashville, Tenn., with 18.9 percent growth; followed by Atlanta (up 14.4 percent) and Detroit (up 13.6 percent). Performance was good overall, with the industry seeing a 2.9 percent year-over-year jump in occupancy and a 4.3 percent climb in average daily rate. Double-digit daily-rate increases occurred in Nashville (up 14.9 percent to $125.93); San Francisco/San Mateo, Calif. (up 12.9 percent to $213.54); and Seattle (up 11.5 percent to $150.14). Philadelphia and Chicago were the only top 25 markets to experience decreases in average daily rate and RevPAR.