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STR: U.S. hotels see 4 percent RevPAR increase in New Year week

ADR and occupancy also rose during the week

THE NEW YEAR started on a positive note for U.S. hotels, according to STR.

RevPAR went up 4 percent to $136.46 during the week of Dec. 29 to Jan. 4. ADR and occupancy increased 4 percent to $136.46 and 0.3 percent to 49 percent respectively.


The only double-digit jump in ADR of 16 percent to $405.95 helped Oahu Island, Hawaii, to record the largest RevPAR increase, up 22.4 percent to $369.64.

Miami/Hialeah, Florida, experienced the only double-digit increase in occupancy, up 9.9 percent to 57.8 percent and the second-largest increase in RevPAR, up 16.3 percent to $290.06.

Nashville, Tennessee, reported the second largest increase in occupancy and third-highest jump in RevPAR, up 9.9 percent to 57.8 percent and up 13.8 percent to $74.64 respectively.

New Orleans saw the steepest drop in RevPAR, down 10.8 percent to $106.86 primarily due to the largest decline in ADR, down 8 percent to $159.35.

Atlanta registered the largest decrease in occupancy, down 6.6 percent to 49.8 percent.

U.S. hotel occupancy was up 5.9 percent during the week before Christmas.

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Peachtree Group funds Vastland’s VOCE hotel with $130M loan
Photo credit: Vastland Co.

Peachtree finances Vastland’s VOCE Hotel for $130M

Summary:

  • Peachtree Group financed Vastland’s VOCE Hotel in Nashville for$130M.
  • The 25-story development will feature 192 residences and 114 hotel suites.
  • Construction will start Dec. 8, with completion expected in fall 2027.

PEACHTREE GROUP PROVIDED a $130 million construction loan to Vastland Co. for its first VOCE Hotel & Residence in Nashville, Tennessee. Construction will begin on Dec. 8, with completion expected in fall 2027.

The 25-story mixed-use development will include 192 residences, 114 hotel suites, 60,000 square feet of office space, and more than 40,000 square feet of dining and wellness amenities, according to NashvillePost.

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