• US hotels see rate rise

US hotels saw average daily rate increase by 2.0% to $99.31 in September, according to data from STR.

Revpar for the month rose 8.8% to finish at $59.49, with occupancy increasing by 6.7% to 59.9%. "The continued demand recovery is indicative of the fact that the transient customer, both business and leisure, have returned to some markets and have even surpassed historical highs in terms of rooms purchased," said Mark Lomanno, president of STR. "While we also have seen an uptick in group travel, it has not yet returned to pre-2008 levels. Once that happens, we expect to begin to see some meaningful room rate growth."

See the full release here:
http://www.strglobal.com/

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