March 2016 STR Destination Report
Wednesday, April 27, 2016
Three months into the year, and Virginia has continued it's trend of outpacing the National percentage growth figures in RevPAR and Occupancy, as seen below. Unfortunately, ADR still lags behind the National Average. Year-to-date, this means that Virginia is improving occupancy and RevPAR much faster than the National figures. Likewise however, ADR paces behind.
Regions performing strong against national average YTD through March:
- Staunton/Harrisonburg — RevPAR: 14.1% to US 2.7% | Occupancy: 9.5% to US -0.5%
- Williamsburg — RevPAR: 23.1% to US 2.7% | Occupancy: 14.0% to US -0.5% | ADR 8.% to US 3.2%
- Virginia Beach — RevPAR: 11.9% to US 2.7% | Occupancy: 9.1% to US -0.5%
- Norfolk/Portsmouth — RevPAR: 10.9% to US 2.7%
Note: Percent change is calculated based on same-time-last year—February 2016 compared to March 2016.