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The U.S. hotel industry registered record-breaking performance during 2018, according to data from STR. Compared with 2017, occupancy increased 0.5% to 66.2%; average daily rate (ADR) rose 2.4% to $129.83 and revenue per available room (RevPAR) was up 2.9% to $85.96.
The absolute values in those three key performance metrics each were the highest the Hendersonville, TN-based hospitality industry research company has ever benchmarked. The U.S. hotel industry also set records for supply (more than 1.9 billion room nights available) and demand (roughly 1.3 billion room nights sold). Based on percentage growth for the year, demand (+2.5%) outpaced supply (+2.0%).
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