The US hotel industry continued to grow in the first quarter of 2019, with all three key metrics seeing increases.
Occupancy, average daily rates and RevPAR all broke Q1 records; however, the increases are much lower than expected.
According to data from STR, occupancy grew 0.4 percent, the average daily rate increased by 1.1 percent and RevPAR went up by 1.5 percent.
“Q1 performance came in lower than forecasted as the industry reported its lowest RevPAR percentage change for an opening quarter since 2010,” said Bobby Bowers, senior VP of operations, STR.
“What made the quarter even more underwhelming was the fact year-over-year results received a lift from the Easter calendar shift as well as significant group performance gains in San Francisco, which is benefitting from an influx of business at the reopened Moscone Centre.”