U.S. hotel performance jumped from the previous week, and revenue per available room (RevPAR) reached an all-time weekly high on a nominal basis, according to STR‘s latest data through June 11.
June 5-11, 2022 (percentage change from comparable week in 2019*):
- Occupancy: 70.6% (-4.1%)
- Average daily rate (ADR): $155.37 (+15.4%)
- Revenue per available room (RevPAR): $109.76 (+10.7%)
In addition to the weekly RevPAR record, the ADR and occupancy levels were the second and third highest of the pandemic-era, respectively.
In aggregate, the Top 25 Markets posted their highest metrics since the beginning of the pandemic.
While none of those markets showed an occupancy increase over 2019, Tampa came closest to its pre-pandemic comparable (-0.1% to 72.4%).
Seattle (85.2%), San Francisco/San Mateo (84.3%) and New York (85.1%) led the major markets in absolute occupancy for the week.
New Orleans reported the largest occupancy decrease from 2019 (-17.4% to 60.3%).
Miami posted the largest ADR gain over 2019 (+32.0% to $205.18).
The steepest RevPAR deficits were in Philadelphia (-5.8% to $111.03) and Oahu Island (-5.0% to $207.14).
*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.
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