The U.S. hotel industry reported average daily rate (ADR) and revenue per available room (RevPAR) that were the highest for any year on record, according to 2022 data from STR.
2022 (percentage change from 2019):
- Occupancy: 62.7% (-4.9%)
- Average daily rate (ADR): US$148.83 (+13.6%)
- Revenue per available room (RevPAR): US$93.27 (+8.1%)
Despite climbing back above the 60% mark, the country’s occupancy level remained below the pre-pandemic comparable.
Among the Top 25 Markets, Oahu Island reported the highest occupancy level (75.4%), which was still down 10.5% from the market’s 2019 benchmark.
While none of the Top 25 Markets reported an occupancy increase, Tampa came closest to its pre-pandemic comparable (-0.8% to 71.6%).
Major markets with the lowest occupancy for the year included Minneapolis (55.5%) and Houston (57.6%).
Miami posted the largest ADR increase over 2019 (+30.0% to US$253.11), while Tampa registered the highest growth in RevPAR (+25.2% to US$119.27).
The steepest RevPAR deficit was in San Francisco (-33.4% to US$135.65).
In aggregate, 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.