Source: STR
From January through August, U.S. hotel supply growth, at
1.5 percent, has outpaced demand growth, at 1.3 percent, according to STR.
August's 2.5 percent increase in U.S. average daily rate matched May for the
lowest increase this year, noted Jan Freitag, STR senior vice president for
lodging insights.
Among the top 25 markets, based on number of
hotel rooms, Philadelphia recorded the largest year-over-year increases in both
occupancy, 5.2 percent to 76.7 percent, and ADR, 11.3 percent to $132.68. San
Francisco had the highest absolute occupancy, 89.3 percent. Houston posted the largest
decline in occupancy, 8.8 percent to 59.7 percent. New Orleans saw the largest
drop-off in ADR, 6.2 percent to $106.29.