Helped by spring break travel, U.S. hotel performance increased from the previous week, according to STR‘s latest data through 18 March.
March 12-18, 2023 (percentage change from comparable weeks in 2022, 2019):
- Occupancy: 67.6% (+1.3%, -2.5%)
- Average daily rate (ADR): $167.04 (+8.9%, +23.9%)
- Revenue per available room (RevPAR): $112.89 (+10.4%, +20.8%)
Among the Top 25 Markets, Boston saw the highest year-over-year increase in occupancy (+17.8% to 71.8%), while Houston saw the highest occupancy lift over 2019 (+9.6% to 72.5%).
Las Vegas showed the most substantial ADR (+77.9% to $306.79) and RevPAR growth (+101.5% to $277.09) year over year. The market also reported the highest increases in the metrics when measuring against 2019: ADR (+113.2% to $306.79) and RevPAR (+116.9% to $277.09).
The steepest RevPAR declines from 2019 were seen in San Francisco (-39.7% to $139.73) and Philadelphia (-12.9% to $83.68). Year over year, Miami reported the largest RevPAR decrease (-8.9% to $252.69).
About STR
STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. 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.
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