Hotel Average Daily Rates Continue to Increase into the Second Quarter
NEW YORK—Revenue per available room (RevPar) for hotels nationwide is significantly up—15 percent year-over-year—based on current reservations on the books for the upcoming 12 months compared to a year ago, according to data from the April 2012 TravelClick North American Hospitality Review (NAHR). The April NAHR looks at group sales commitments and individual reservations for hotel stays that are booked by April 2012 for the period of April 2012 to March 2013. READER COMMENTS
Group business, which includes meetings and conventions, continues to drive occupancy growth, with an increase of 5.9 percent over the same time last year. Group average daily rate (ADR) is also showing a strong increase of 6.4 percent compared to last year.
The transient segment, which consists of individual business and leisure travelers, increased 7 percent compared to the same time last year, with weekday demand up by 6.8 percent and weekend demand up 7.3 percent. ADR increases for weekdays and weekends are also up 8.2 percent and 8.1 percent respectively.
“Our TravelClick data has consistently shown increases in demand across all travel segments during this early part of 2012,” said Tim Hart, executive vice president, enterprise services at TravelClick, in an announcement. “Hotels are continuing to drive their bookings and target different types of customers to maximize their profits, and this type of data helps to provide the proper market awareness to make those revenue maximizing decisions.”
Second Quarter 2012 Outlook
Committed occupancy for the second quarter is up 4.6 percent year-over-year based on current bookings. Compared to the same time last year, RevPAR for Q2 is up 11.6 percent supported by strong increases for the month of May, which is up 15.6 percent and June, which is up 22.3 percent. ADR continues to strengthen and show significant growth, up 6.9 percent over the same time last year.
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