The Americas Hotel Market Performs Better Than Expect in 2012

When reported in U.S. dollars for 2012, the Americas region, according to STR Global, achieved favorable results in the three key performance metrics.

The Americas region reported an increase in occupancy of 2.4 percent to 61.5 percent, an increase in the average daily rate of 3.8 percent to US$108.53, and an increase in revenue per available room of 6.3 percent to US$66.77 in 2012.

Los Angeles, California, reported the largest increase in occupancy among the key markets in the area in 2012, rising 5.1 percent to 75.4 percent. San Juan, Puerto Rico, came in second with a 4.2-percent increase to 76.8 percent.

The two cities with the largest ADR increases for the year were Santiago, Chile (+11.3 percent to US$176.02), and San Francisco, California (+10.8 percent to US$171.72).

In San Francisco (+12.8 percent to US$137.99), Santiago (+12.7 percent to US$127.37), Los Angeles (+11.0 percent to US$98.11), and Chicago, Illinois (+10.0 percent to US$83.50), there was double-digit RevPAR growth in each of these four markets.

The largest decline in all three important performance metrics was recorded for the year in Panama City. The market’s ADR dropped 10.1 percent to US$118.60, its occupancy dropped 15.9 percent to 48.5 percent, and its RevPAR dropped 24.4 percent to US$57.51.