U.S. hotels achieved a record average daily rate in 2014 and should push that number even higher this year, according to STR.
For the full year, U.S. ADR was $115.32, up 4.6 percent compared with 2013 levels and the highest annual ADR ever recorded by STR. The firm forecasts that ADR in 2015 will increase an additional 5.2 percent. 2014 U.S. hotel occupancy increased 3.6 percent year over year to 64.4 percent.
Full-year ADR and occupancy increased year over year in all of the top 25 U.S. markets during 2014, STR reported. The largest ADR increases were in Nashville (12.8 percent to $116.86) and San Francisco (10.9 percent to $207.81) , and the largest occupancy increases for the year were in Atlanta (8.1 percent to 68.2 percent) and Denver (6.5 percent to 75.4 percent), according to the firm.