U.S. October hotel rates, occupancy rise
U.S. hotels saw year-over-year increases in average daily rates, occupancy, and revenue per available room in October, according to STR
ADR in October rose 1.8 percent year over year to $164.86, while occupancy rose 2.3 percent to 67.3 percent and RevPAR rose 4.1 percent to $110.94, according to STR.
STR again said its top 25 markets "posted higher occupancy and ADR than all other markets," which it has noted for several months.
New York posted the highest October occupancy among STR's top 25 markets at 91 percent, up 4.6 percent year-over-year. St. Louis had the lowest October occupancy at 61.7 percent, followed by Minneapolis at 63.1 percent.
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