With lower Spring Break travel volume, U.S. hotel performance dipped slightly from the previous week, according to STR‘s latest data through March 26.
March 20-26, 2022 (percentage change from comparable week in 2019*):
- Occupancy: 65.5% (-5.5%)
- Average daily rate (ADR): $149.38 (+13.5%)
- Revenue per available room (RevPAR): $97.92 (+7.3%)
The weekly ADR level was the third highest for any week on record, behind the previous week ending 19 March and the week of Christmas in 2021.
While none of the Top 25 Markets showed an occupancy increase over 2019, Tampa came closest to its 2019 comparable (-0.1% to 84.7%).
Minneapolis experienced the largest occupancy decrease from 2019 (-21.8% to 51.8%).
Of note, weekly group demand (upper upscale and luxury classes) in San Francisco/San Mateo was 4.8% higher than the 2019 comparable, helped by the Game Developers Conference and NCAA Basketball. RevPAR in the market was just 1.4% below the 2019 comparable, after coming in 54.2% under the 2019 comparable for the week ending March 19, 2022.
The steepest RevPAR deficits were in Washington, D.C. (-27.5% to $105.10) and Seattle (-24.0% to $87.63).
*Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.
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.
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editorial Director Stephanie Ricca at sricca@hotelnewsnow.com.