U.S. Hotel Performance Up in July

The U.S. hotel industry enjoyed an 8.5 percent year-over-year increase in revenue per available room for the month of July, according to the latest data released by Smith Travel Research. Occupancy grew by 7 percent, and average daily rate, which has been lagging behind the other metrics, was up 1.3 percent for the month. "We are finally beginning to see signs of room-rate recovery, especially in the higher end of the market," said STR president Mark Lomanno in a statement. "In the coming months, we hope to see more balanced RevPAR growth as operators begin to accelerate room-rate growth." The top eight markets experienced double-digit occupancy growth for July, led by Detroit, whose occupancy rose 20.9 percent to 61.5 percent.