U.S. hotel performance increased from the previous week and showed improved comparisons year over year, according to STR‘s latest data through May 20.
May 14-20, 2023 (percentage change from comparable week in 2022):
- Occupancy: 67.5% (-1.5%)
- Average daily rate (ADR): $158.53 (+3.6%)
- Revenue per available room (RevPAR): $106.98 (+2.1%)
The U.S. occupancy level was the second highest for any week this year.
Among the Top 25 Markets, Washington, D.C., saw the highest year-over-year increases in each of the three key performance metrics: occupancy (+9.3% to 83.2%), ADR (+16.2% to $220.58) and RevPAR (+27.0% to $183.60). The weekly occupancy level was the highest in the market since the start of the pandemic.
Of note, New York City saw the highest occupancy level (89.5%), helped by NYU’s commencement at Yankee Stadium.
The steepest RevPAR declines were seen in Miami (-17.6% to $149.00) and San Francisco (-12.2% to $161.59).
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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