Q3 Shows Highest ADR Growth YTD
Charlestowne Hotels’ revenue performance continues to stem from impressive rate growth, with third quarter numbers exceeding previous results and industry averages. Yesterday, STR reported a national average daily rate (ADR) change of 5.2 percent for the trailing three months, while hotels within the Charlestowne portfolio experienced an average increase more than double the U.S. at 10.5 percent.
As for overall revenue per available room (RevPAR) growth, the industry’s year-to-date change of 8.2 percent shows decent growth, but still falls short of the double digit increase of 14 percent that Charlestowne Hotels recently reported. These results continue to keep Charlestowne Hotels on track to significantly outperform the industry’s revenue metrics for the fifth consecutive year.