U.S. hotel performance increased from the previous week, according to STR‘s latest data through April 15.
April 9-15, 2023 (percentage change from comparable week in 2022):
- Occupancy: 64.2% (+3.7%)
- Average daily rate (ADR): $155.33 (+4.7%)
- Revenue per available room (RevPAR): $99.67 (+8.6%)
Among the top 25 markets, Minneapolis saw the highest year-over-year increase in occupancy (+17.4% to 54.5%).
Washington, D.C., showed the most substantial ADR (+22.5% to $200.99) and RevPAR (+38.1% to $146.73) growth year over year.
The steepest RevPAR declines were seen in San Francisco (-22.3% to $114.41) and Miami (-14.2% to $189.90).
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.