U.S. Hotel Occupancy for the Week Ending March 11th at 64.7%

Bank Image

  The steepest RevPAR declines from 2019 were seen in San Francisco (-22.8% to US$144.02)

STR;

Helped by the onset of spring break travel, U.S. hotel performance increased from the previous week, according to STR‘s latest data through 11 March.

5-11 March 2023 (percentage change from comparable weeks in 2022, 2019):

  • Occupancy: 64.7% (+2.8%, -7.5%)
  • Average daily rate (ADR): US$158.20 (+8.1%, +16.6%)
  • Revenue per available room (RevPAR): US$102.38 (+11.1%, +7.8%)

Among the Top 25 Markets, Washington, D.C., saw the highest year-over-year increase in occupancy (+21.8% to 67.6%). None of the Top 25 Markets saw an occupancy lift over 2019.

D.C. also showed the most substantial ADR (+23.4% to US$183.86) and RevPAR growth (+50.2% to US$124.33) year over year.

In terms of ADR, Anaheim reported the highest ADR (+51.4% to US$245.62) and RevPAR (+42.2% to US$189.81) increases when measuring against 2019.

The steepest RevPAR declines from 2019 were seen in San Francisco (-22.8% to US$144.02) and Minneapolis (-15.2% to US$61.44).  Year over year, San Diego (-16.1% to US$61.99) reported the largest RevPAR decrease. 

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.

Source

About Mary Weyand 14644 Articles
Mary founded Scoop Tour with an aim to bring relevant and unaltered news to the general public with a specific view point for each story catered by the team. She is a proficient journalist who holds a reputable portfolio with proficiency in content analysis and research. With ample knowledge about the Automobile industry, she also contributes her knowledge for the Automobile section of the website.

Be the first to comment

Leave a Reply

Your email address will not be published.


*