June Hotel RevPAR Highest Since August 2008
by Michael J. ShapiroJuly 22, 2011
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The average U.S. hotel revenue per available room for the month of June was $68.90, according to data just released from Smith Travel Research — a 7.8 percent year-over-year increase, and the highest monthly RevPAR posted since August 2008. Driving that were a 4.2 percent increase in occupancy, to 67.6 percent, and a 3.5 percent rise in average daily rate, to $101.95. “Demand continues to be at peak levels, and supply increases are minimal,” noted STR president Amanda Hite in a statement. “High fuel costs have tapered, and the summer travel season likely will prove to be a profitable, busy time for hoteliers.” The luxury chain scale segment posted the largest increases for the month, with gains of 5.7 percent for occupancy, 6.6 percent in average daily rate and 12.7 percent for RevPAR.