Reflecting the normal ebb and flow of spring break season, U.S. hotel performance decreased from the previous week, according to STR‘s latest data through March 25.
March 19-25, 2023 (percentage change from comparable weeks in 2022, 2019):
- Occupancy: 64.9% (-0.6%, -6.3%)
- Average daily rate (ADR): $158.61 (+4.7%, +19.5%)
- Revenue per available room (RevPAR): $102.98 (+4.1%, +12.0%)
Among the Top 25 Markets, Chicago saw the highest year-over-year increase in occupancy (+12.2% to 63.4%), while Phoenix saw the only occupancy lift over 2019 (+3.1% to 81.5%).
Washington, D.C., showed the most substantial ADR (+20.9% to $194.18) and RevPAR growth (+33.4% to $139.83) year over year. Las Vegas reported the highest increases in the metrics when measuring against 2019: ADR (+42.7% to $187.21) and RevPAR (+31.5% to $148.86).
The steepest RevPAR declines from 2019 were seen in Seattle (-11.8% to $101.31) and New Orleans (-11.4% to $124.47). New Orleans also reported the largest RevPAR decrease year over year (-12.4% to $124.47).
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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