This statistic shows the revenue of the United States hotel industry from 2001 to 2015. In 2013, the revenue of the hotel industry in the U.S. reached 163 billion U.S. dollars.
U.S. hotel industry key performance indicators
The total revenue of the U.S. hotel industry was estimated at 155.5 billion U.S. dollars in 2012 by STR Global, which tracks the monthly and daily hotel market performance data. According to research by Euromonitor International the global hotel industry generated about 457 billion U.S. dollars in revenue in 2011.
The source estimates that the revenue of the global hotel industry will grow to about 550 billion U.S. dollars by 2016.
Amongst the leading hotel companies / groups are for example InterContinental Hotels Group, Marriott International, Hilton Worldwide, Accor, Starwood Hotels, the Wyndham Hotel Group and Hyatt Hotels.
To measure the performance of the hotel industry sector three basic benchmark figures are commonly used:
• Occupancy rate
• Average daily rate (ADR)
• Revenue per available room (Revpar)
The occupancy rate denotes the percentage of hotel rooms that are rented out at a given time of all the hotel rooms that are available. In 2012, the occupancy rate of the U.S. hospitality industry was at 61.3 percent, the first time the overall occupancy rates was above 60 percent since 2007. In 2015, occupancy rates are expected to reach 65.1 percent.
The average daily rate (ADR) shows the average rate at which hotel rooms were paid. It is calculated by dividing total rooms revenue by the number of rooms that were occupied. In 2014, the ADR of hotel rooms in the U.S. was at 113.42 U.S. dollars according to data published by PricewaterhouseCoopers and STR. In North America the average daily rate is relatively stable throughout the year. In 2012, the month with the lowest ADR in North America was January with an average daily rate of 101.86 U.S. dollars, the highest was measured in October (110.37 U.S. dollars).
Revenue per available room (Revpar) is a measure of utilization in the hotel industry and can be calculated by multiplying the average daily rate of a property (market) by its occupancy rate. The Revpar of hotels in the United States was at 74.28 U.S. dollars in 2014. For 2015 a Revpar of 79.06 U.S. dollars is projected. In 2014, the revenue per available room ranged between 57.02 U.S. dollars (January) and 86.71 U.S. dollars (July).