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    Home»MEET Med Misc.»Medical Meeting News»Hotel Occupancy and Booking Updates for October 2022
    Medical Meeting News

    Hotel Occupancy and Booking Updates for October 2022

    The MEET® Family of PublicationsBy The MEET® Family of PublicationsOctober 14, 2022Updated:January 23, 2023No Comments3 Mins Read
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    STR: U.S. hotel results for week ending 8 October

    U.S. hotel performance increased from the previous week but produced mixed comparisons with 2019, according to STR‘s latest data through 8 October. 

    2-8 October 2022 (percentage change from comparable week in 2019*):

    • Occupancy: 68.2% (-3.5%)
    • Average daily rate (ADR): US$153.79 (+16.9%)
    • Revenue per available room (RevPAR): US$104.83 (+12.8%)

    While weekday performance showed an expected decline due to Yom Kippur, school breaks and the extended holiday weekend helped lift levels on Friday and Saturday. Performance levels in Florida were also lifted by post-Hurricane Ian demand. Further analysis will be available in STR’s Market Recovery Monitor.

    Among the Top 25 Markets, Orlando reported the highest occupancy increase over 2019 (+1.9% to 73.6%).

    San Diego reported the largest ADR gain over 2019 (+39.3% to US$216.93).

    San Francisco was the only market to post an ADR drop (-17.7% to US$227.56).

    The steepest RevPAR declines were in San Francisco (-32.5% to US$162.40) and Minneapolis (-14.5% to US$84.46).

    *Due to the pandemic impact, STR is measuring recovery against comparable time periods from 2019.


    International hotel bookings increase and corporations are planning trips further in advance

    Over the last quarter, international travel has been steadily returning to the booking trends from pre-pandemic, according to HotelHub, the leading hotel technology solution provider for TMCs and their corporate customers.

    From the latest HotelHub Index for Q3 2022, international hotel bookings are increasing to pre-pandemic levels. Particularly, the European market has seen a 43% increase in bookings in September, which is only one percent lower than September 2019’s 44% bookings. In the United States, however, the number of hotel bookings is still significantly lower, only reaching 16% when compared to the 29% reached in September 2019.

    Advanced bookings are increasing, and corporations are planning trips further ahead. In Europe, the average lead time is 17 days, and in the United States, bookings are being made 14 days in advance, compared to 16 days in September 2019.

    Overall, the global international hotel transactions made via the HotelHub platform in Q3 2022 remain consistent with the pre-pandemic booking volumes. Advanced bookings are continuing to increase, and business trips are returning to previous years’ volumes.

    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 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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