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.
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