U.S. weekly hotel occupancy reached its highest level since October 2019, while room rates hit an all-time high, according to STR‘s latest data through July 24.
July 18-24, 2021 (percentage change from comparable week in 2019*):
- Occupancy: 71.4% (-7.8%)
- Average daily rate (ADR): $141.75 (+4.0%)
- Revenue per available room (RevPAR): $101.24 (-4.2%)
Historically, the middle weeks of July are the country’s highest occupancy weeks each year, and 2021 has been no different even as demand slows week to week.
ADR, while an all-time high on a nominal basis, comes in at a real value of $136 when adjusted for inflation. That would be shy of the record from 2019. Both occupancy and ADR played a role in RevPAR reaching it highest level since July 2019 on a nominal basis.
Among the Top 25 Markets, Tampa saw the only occupancy increase over 2019 (+2.9% to 78.5%).
San Francisco/San Mateo experienced the steepest decline in occupancy when compared with 2019 (-35.2% to 58.3%).
Miami reported the largest ADR (+52.0% to $237.49) and RevPAR (+49.3% to $183.66) increases over 2019.
The largest RevPAR drops were in San Francisco/San Mateo (-54.4% to $97.93) and Washington, D.C. (-43.4% to $69.86).
*Due to the steep, pandemic-driven performance declines of 2020, STR is measuring recovery against comparable time periods from 2019.
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Additional Performance Data
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About STR
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.
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