As expected ahead of Memorial Day, U.S. hotel performance decreased from the previous week, according to STR‘s latest data through May 27. Year-over-year comparisons were improved.
May 21-27, 2023 (percentage change from comparable week in 2022):
- Occupancy: 66.8% (+0.6%)
- Average daily rate (ADR): $156.63 (+2.2%)
- Revenue per available room (RevPAR): $104.62 (+2.9%)
Among the top 25 markets, Washington, D.C., saw the highest year-over-year occupancy lift (+10.5% to 76.2%).
Of note, New York City registered the highest occupancy level (85.7%), helped by Taylor Swift’s Eras Tour.
Detroit reported the largest increases in ADR (+16.9% to $137.08) and RevPAR (+29.0% to $91.54) over 2022.
The steepest RevPAR declines were seen in Miami (-10.0% to $143.51) and Dallas (-7.0% to $83.35).
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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