HENDERSONVILLE, TN – Smith Travel Research (STR), announced third quarter and September YTD 2000 results for the lodging industry.
Industry occupancy reached 69.7% in the third quarter of 2000, an increase of 0.3% versus third quarter 1999. Average room rate grew 5.4% to $85.40. RevPAR grew 5.7% to $59.53 in the quarter.
Industry room supply increased 2.9% in third quarter, significantly lower growth than the 4% increase in third quarter 1999. Demand grew 3.2%, down slightly from the 3.3% increase in last years third quarter. Room revenue gained almost 9%.
In the month of September 2000, industry occupancy grew 1.2% to 66.5% and average room rate gained 6% to $86.44 RevPAR grew more than 7% to $57.52.
September 2000 YTD industry occupancy gained 0.8% to 65.6% while room rate grew nearly 5% to $85.07. RevPAR increased 5.5% in the first nine months of 2000 to $55.77. Room supply increased 3.1%, the lowest January-September supply growth rate since 1996. Room demand gained 3.9% and room revenue grew 8.8%.
For the 12-month period ending September 2000, industry occupancy gained 0.2% versus the comparable 12-month period prior year to 63.5%. Average room rate grew 4.8% to $84.36 and RevPAR increased 5% to $53.61. Room supply growth continued its downward trend, gaining 3.3% while demand growth increased a healthy 3.6%. (10/27/00)