November showed the impact a single day in calendar shift can have on the United States hotel industry. November 2014 had one more Sunday (a low-demand day) and one less Friday (high demand) than November 2013, resulting in the lowest demand growth since January, according to an analysis

from Jan Freitag, senior VP of strategic development for STR, parent company of HNN.

NOV.

OCT.

SEPT.

L o w e r - e n d c h a i n s c a l e s a r e n o w d r i v i n g o c c u p a n c y f a s t e r t h a n t h e h i g h e r - e n d s c a l e s . T h i s t h e n d r i v e s

R e v PA R a t a s l i g h t l y s t r o n g e r r a t e .

S T R h a d n o t r e c o r d e d N o v e m b e r y e a r - t o - d a t e

o c c u p a n c y o f m o r e t h a n 6 5 % t h i s c e n t u r y .

N i n e o f t h e t o p 2 5 U . S . m a r k e t s r e p o r t e d y e a r - t o - d a t e g r o u p A D R g r o w t h o f m o r e t h a n 4 % .

M A R K E T

N a s h v i l l e , T e n n e s s e eB o s t o nS a n F r a n c i s c o / S a n M a t e oO a h u I s l a n d , H a w a i iN e w Y o r k C i t yA n a h e i m / S a n t a A n a , C a l i f o r n i aS t . L o u i sD e t r o i tS e a t t l e

Y T D G R O U P A D R G R O W T H

+ 1 0 . 3 %+ 6 . 9 %+ 6 . 9 %+ 6 . 2 %+ 5 . 5 %

+ 5 %+ 4 . 7 %+ 4 . 4 %

+ 4 %

R e v P A R % C h a n g e

L u x u r y + 5 . 9 %U p p e r u p s c a l e + 5 . 5 %U p s c a l e + 6 . 8 %U p p e r m i d s c a l e + 6 . 8 %M i d s c a l e + 6 . 9 %E c o n o m y + 7 . 3 %I n d e p e n d e n t + 8 . 3 %

4 . 9 %

6 . 3 %

. . . w h i c h w a s t h e s e c o n d h i g h e s t i n c r e a s e t h i s y e a r . T h i s i s t h e

5 7 t h c o n s e c u t i v e m o n t h o f p o s i t i v e R e v P A R g r o w t h , a n d S T R

s e e s n o r e a l s i g n s o f a n y t h i n g b u t h e a l t h y g r o w t h u n t i l 2 0 1 7 .