Pace of growth is expected to slow and STR’s projected 2019 ADR increases, 2.3 percent overall, are only in line with the expected rate of inflation.
The U.S. hotel industry in October saw year-over-year gains in both occupancy and average daily rate, according to STR. Occupancy rose 0.8 percent to 69.9 percent, while ADR increased 2.7 percent to $133.81.
The October results provided some reassurance to the U.S. hotel industry after a disappointing September, something mentioned by Marriott International president and CEO Arne Sorenson during the company’s recent earnings call.
Among the top 25 markets by hotel supply, only New Orleans saw a double-digit increase in occupancy, 10.2 percent to 77.1, and San Francisco/San Mateo posted the greatest increase in ADR, 7.3 percent to $276.19.