Lodging
The average daily rate at U.S. hotels in April increased 4 percent year over year to $114.67,
STR reported on Wednesday. Occupancy increased 3.2 percent to 65.7 percent, contributing to the highest revenue per available room growth in the past 12 months, according to STR senior vice president of strategic development Jan Freitag. Among the top 25 U.S. markets, the largest ADR increases were in Nashville (up 16.1 percent to $119.60), Miami (up 13.6 percent to $206.83) and Tampa/St. Petersburg (up 11.1 percent to $121.34). Freitag also noted that year-over-year U.S. ADR growth has been higher than 3 percent every month since January 2011, and the firm expects "rate growth to continue unabated for the foreseeable future."