U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to STRs latest data through 20 May.
U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to STR‘s latest data through 20 May.
14-20 May 2023 (percentage change from comparable week in 2022):
- Occupancy: 67.5% (-1.5%)
- Average daily rate (ADR): US$158.53 (+3.6%)
- Revenue per available room (RevPAR): US$106.98 (+2.1%)
The U.S. occupancy level was the second highest for any week this year.
Among the Top 25 Markets, Washington, D.C., saw the highest year-over-year increases in each of the three key performance metrics: occupancy (+9.3% to 83.2%), ADR (+16.2% to US$220.58) and RevPAR (+27.0% to US$183.60). The weekly occupancy level was the highest in the market since the start of the pandemic.
Of note, New York City saw the highest occupancy level (89.5%), helped by NYU’s commencement at Yankee Stadium.
The steepest RevPAR declines were seen in Miami (-17.6% to US$149.00) and San Francisco (-12.2% to US$161.59).
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.