July Results – ADR Still Growing in Q3
Impressive ADRs Continue to Drive RevPAR Growth
The third quarter of 2014 is off to a strong start, as the U.S. hotel industry continues to report an increase in all three key performance metrics, according to STR. While the industry’s occupancy growth is comparable with the hotels in the Charlestowne portfolio, the year-over-year increase in average daily rate (ADR) is the most apparent differentiator in the overall revenue growth. For the month of July, the industry reported a 4.8 percent increase in ADR, which is less than half of what Charlestowne Hotels reported at 10.1 percent. These metrics resulted in an 8.8 percent growth in revenue per available room (RevPAR) versus Charlestowne’s 14.32 percent increase in the same month.