February 2016 STR Destination Report
Tuesday, March 22, 2016
Statewide, through the first two months of 2016, RevPAR and Occupancy have shown stronger growth than the national equivalents, 4.2% to 2.6% and 2.4% to -0.6% respectively. ADR nationally is increasing at a higher pace than Virginia, 1.8% (VA) to 3.2% (US).
Comparing February 2016 to February 2015, as seen in the below graphic, Virginia is outpacing the national RevPAR and Occupancy change by a fair margin.
Regions performing strong against national average YTD:
- Richmond+ — RevPAR: 7.9% to US 2.6% | ADR: 7.8% to US 3.2%
- Staunton/Harrisonburg — RevPAR: 13.6% to US 2.6% | Occupancy: 9.0% to US -0.6%
- The coastal areas are also performing well, significantly outpacing the national RevPARchange.
Note: Percent change is calculated based on same-time-last year—February 2016 compared to February 2016.