June Results – YTD Growth Comparison
Charlestowne Hotels On Track to Double Industry’s RevPAR Growth 5 Consecutive Years
As many industry leaders predicted, an increase in all three key performance metrics have been reported during the first 6 months of 2014. Although the U.S. average in occupancy, average daily rate (ADR) and revenue per available room (RevPAR) show positive results, the growth is mediocre compared to the significant increases within Charlestowne Hotels’ portfolio reported year-to-date (YTD).
For the month of June, Charlestowne reported 11.2 percent RevPAR growth compared to the national average of 7.2 percent. These metrics concluded mid-year results and contributed to the impressive RevPAR increase of 15.2 percent that hotels within the Charlestowne portfolio experienced versus the industry’s growth of 7.5 percent according to STR’s most recent data report.
These recent results keep Charlestowne on track to outperform the national average by more than double for 5 consecutive years.