U.S. hotel performance showed mixed results from the previous week but grew year over year, according to STR‘s latest data through May 6.
April 30 through May 6, 2023 (percentage change from comparable week in 2022):
- Occupancy: 65.2% (+2.0%)
- Average daily rate (ADR): $157.62 (+6.4%)
- Revenue per available room (RevPAR): US$102.74 (+8.4%)
Among the Top 25 Markets, Chicago saw the highest year-over-year increases in occupancy (+14.7% to 67.7%) and RevPAR (+36.2% to $116.98).
Of note, New York City (85.1%) and Oahu Island (80.2%) were the only two markets to report occupancy above 80%.
Helped by Taylor Swift’s Eras Tour, Nashville reported the largest increase in ADR (+27.9% to $227.79) and the second-highest jump in RevPAR (+33.2% to US$174.20).
The only RevPAR declines were seen in Miami (-9.9% to $197.12) and San Francisco (-2.4% to $141.18).
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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