U.S. hotel performance increased from the previous week, according to STR‘s latest data through 25 February.
19-25 February 2023 (percentage change from comparable week in 2019*):
- Occupancy: 64.2% (-1.5%)
- Average daily rate (ADR): US$156.51 (+22.2%)
- Revenue per available room (RevPAR): US$100.43 (+20.3%)
The U.S. weekly occupancy level was the highest since the week ending 12 November 2022.
Among the Top 25 Markets, Orlando saw the highest occupancy increase over 2019 (+6.2% to 86.9%).
Las Vegas reported the highest ADR (+49.5% to US$186.96) and RevPAR (+51.8% to US$148.61) increases over 2019.
The steepest RevPAR declines from 2019 were seen in San Francisco (-43.5% to US$105.65) and Minneapolis (-22.2% to US$52.42).
*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.