With the Martin Luther King Jr. holiday, U.S. hotel performance came in slightly lower than the previous week, according to STR‘s latest data through 21 January.
15-21 January 2023 (percentage change from comparable week in 2019*):
- Occupancy: 54.2% (-6.2%)
- Average daily rate (ADR): US$140.16 (+11.3%)
- Revenue per available room (RevPAR): US$75.97 (+4.4%)
Among the Top 25 Markets, Tampa reported the highest increase over 2019 in each of the three key performance metrics: occupancy (+6.8% to 78.8%), ADR (+31.9% to US$174.78) and RevPAR (+41.0% to US$137.76).
None of the other Top 25 Markets saw an occupancy lift over 2019.
The steepest RevPAR declines from 2019 were seen in San Francisco (-41.5% to US$108.60) and Seattle (-29.2% to US$67.42).
*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019. Year-over-year comparisons will once again become standard after Q1.
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.