Ashford Hospitality Trust, Inc. (NYSE: AHT) reported yesterday that the Company expects to report occupancy of approximately 71% for the third quarter of 2022 with an average daily rate (ADR) of approximately $179 resulting in RevPAR of approximately $127. This RevPAR reflects an approximate increase of 29% compared to the third quarter of 2021 and a decrease of approximately 4% compared to the third quarter of 2019.
Additionally, for the month of September 2022, RevPAR increased approximately 0.4% versus September 2019. For the month of August 2022, RevPAR decreased approximately 6% versus August 2019. For the month of July 2022, RevPAR decreased approximately 5% versus July 2019.
"We're pleased with Ashford Trust's strong third quarter operating results and while we have seen positive ADR, we are extremely encouraged that our RevPAR performance in September represents the first positive month we've had versus 2019 thus far," commented Rob Hays, Ashford Trust's President and Chief Executive Officer. "Operationally, we continued to benefit from increased demand and realized notable rate increases in many key markets during the quarter. As we look ahead to the fourth quarter, and into 2023, we believe that our high-quality, geographically diverse portfolio, with its high exposure to both transient leisure and business customers, remains well-positioned."
Ashford Hospitality Trust is a real estate investment trust (REIT) focused on investing predominantly in upper upscale, full-service hotels.