May 2015 STR Destination Report
Tuesday, June 23, 2015
May’s STR destination report for Virginia shows a second consecutive month of positive gains for the state and many of its individual markets. For the second straight month, Virginia beat the national growth percentages in RevPAR (VA 8.4% to U.S. 5.9%), Occupancy (2.6% to 0.8%), and ADR (5.6% to 5.0%). While May 2015 to May 2014 percentage growth has exceeded national average the hard figures still trailed—with Occupancy (VA 68.7% to U.S. 67.5%) being the one exception.
Year-to-date, Virginia’s percentage growth is exceeding the national figures in RevPAR (8.6% to 7.2%) and Occupancy (4.1% to 2.3%); however, ADR (4.3% to 4.7%) is slightly behind.
The strong percentage increases are positive signs for the state as we enter 2015's peak travel season.
Note: Percent change is calculated based on same-time-last year—May 2014 to May 2015.