As expected on the negative side of a holiday calendar shift, U.S. hotel performance came in lower than the previous week, according to STR‘s latest data through 9 July.
3-9 July 2022 (percentage change from comparable week in 2019*):
- Occupancy: 63.3% (-14.5%)
- Average daily rate (ADR): US$153.71 (+15.7%)
- Revenue per available room (RevPAR): US$97.37 (-1.1%)
Whereas the previous week’s percentage changes were elevated on the favorable side of the calendar shift, the most recent week was skewed downward due to a comparison with a non-holiday week in 2019. After two consecutive weeks of lower demand around the Fourth of July holiday, the metrics are expected to strengthen for the remaining weeks of July.
Among the Top 25 Markets, Oahu Island reported the highest levels in each of the three key performance metrics: occupancy (86.2%), ADR (US$315.57) and RevPAR (US$271.92).
*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.