October 2015 STR Destination Report
Friday, November 20, 2015
YTD hotel RevPAR, Occupancy and ADR continue to show growth. A strong indicator of the positive outlook consumers have of the economy. This is seen in both the national and Virginia figures. Noteworthy is that Virginia's RevPAR and Occupancy are exceeding the national average, while ADR has fallen behind.
Regions performing strong against national average YTD:
- Richmond — RevPAR is up 13.0% (U.S. is up 6.7%); ADR is up 10.7% (U.S. is up 4.7%)
- Staunton/Harrisonburg — Occupancy is up 4.0% (U.S. is up 1.8%)
- Williamsburg — RevPAR is up 9.8% (U.S. is up 6.7%); ADR is up 5.5% (U.S. is up 4.7%)
- Norfolk/Portsmouth — RevPAR is up 9.2% (U.S. is up 6.7%); ADR is up 6.8% (U.S. is up 4.7%)
Note: Percent change is calculated based on same-time-last year—October 2014 compared to October 2015.