In 2012, the Americas region reported a 2.4-percent increase in hotel occupancy to 61.5 percent, a 3.8-percent gain in average daily rate to $108.53 and a 6.3-percent jump in revenue per available room to $66.77, according to data compiled by STR and STR Global.
STR also reports gains for the U.S. hotel industry. Among the key markets in the region, Los Angeles, California, rose 5.1 percent in occupancy to 75.4 percent in 2012, reporting the largest increase in that metric, followed by San Juan, Puerto Rico, with a 4.2-percent increase to 76.8 percent.
Santiago, Chile (+11.3 percent to $176.02), and San Francisco, California (+10.8 percent to $171.72), achieved the largest ADR increases for the year. Four markets experienced double-digit RevPAR growth: San Francisco (+12.8 percent to $137.99); Santiago (+12.7 percent to $127.37); Los Angeles (+11.0 percent to $98.11); and Chicago, Illinois (+10.0 percent to $83.50).
Panama City, Panama, reported the largest decrease in all three key performance metrics for the year. The market’s occupancy fell 15.9 percent to 48.5 percent, its ADR was down 10.1 percent to US$118.60 and its RevPAR decreased 24.4 percent to $57.51.
In December 2012, the Americas region increased 3.0 percent in occupancy to 49.3 percent, rose 4.2 percent in ADR to $108.05 and grew 7.3 percent in RevPAR to $53.25, STR reports.
STR also reports that overall, for 2012, the U.S. hotel industry’s occupancy increased 2.5 percent to 61.4 percent, its average daily rate was up 4.2 percent to $106.10 and its revenue per available room grew 6.8 percent to $65.17.
“Fiscal cliffs, hurricanes, elections and, at times, a sense of overwhelming uncertainty did not deter positive 2012 year-end performance results,” said Brad Garner, STR’s COO. “Annualized room nights sold increased by 3.0 percent in 2012, and outpaced the 2007 previous peak levels by 60 million rooms (1.09 billion rooms in 2012 versus 1.03 billion in 2007). Room rates for hotels increased by over 4.0 percent, pushing industry-wide RevPAR by almost 7.0 percent. The industry was also unencumbered by supply growth of 0.5 percent."
“While the industry’s resolve will continue to be tested with pockets of uncertainty, we anticipate continued growth in all industry performance metrics for 2013,” Garner commented.
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