The U.S. hotel industry reported record-high monthly room rates on a nominal basis, according to July 2022 data from STR.
July 2022 (percentage change from June 2019):
- Occupancy: 69.6% (-5.4%)
- Average daily rate (ADR): US$159.08 (+17.5%)
- Revenue per available room (RevPAR): US$110.73 (+11.2%)
The country also reported an all-time high RevPAR level (nominal), while occupancy was the second highest since August 2019.
Among the Top 25 Markets, Oahu Island experienced the highest occupancy level (86.3%), which was down 2.1% from the market’s 2019 benchmark.
Markets with the lowest occupancy for the month included New Orleans (57.2%) and Phoenix (57.3%).
San Francisco reported the steepest decline in occupancy when compared with 2019 (-16.2%).
Reflecting continued improvement in business travel and groups, the Top 25 Markets showed higher occupancy and ADR than all other markets.
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.