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US hoteliers report healthy March trading
US hotel operators reported increases across all three key performance indicators in March - compared with the same period last year - according to new figures from STR.
Occupancy levels increased more than 6 per cent against March 2010 data, while the average daily rate grew nearly 4 per cent. RevPAR was up by more than 10 per cent for the period. Among the top 25 markets in the US, four posted double-digit occupancy growth - Detroit, Michigan; Tampa-St Petersburg, Florida; Dallas, Texas; and New Orleans, Louisiana.
The New Orleans market also saw a significant increase in RevPAR, which grew by a fifth on March 2010 levels, while six other locations saw double-digit growth. STR president Amanda Hite said: "Luxury segment RevPAR growth was almost equally made up of ADR and occupancy growth, sending a strong signal to lower-rated chain scales that pricing power is returning.
"The Upscale and Upper Midscale segment rooms still grew at a rate of 3.0 percent and 3.6 percent, respectively, indicating development activity for these hotels has not been curtailed by lack of funding." Image: Chen Wei Seng/Shutterstock.com
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