U.S. Hotel Occupancy Reaches All-time High Amid Inflation

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U.S. hotel revenue per available room (RevPAR) reached an all-time weekly high on a nominal and inflation-adjusted basis, according to STR‘s latest data through 18 June. 

12-18 June 2022 (percentage change from comparable week in 2019*):

  • Occupancy: 71.8% (-4.8%)
  • Average daily rate (ADR): US$155.02 (+14.9%)
  • Revenue per available room (RevPAR): US$111.29 (+9.4%)

The occupancy level was the highest of the pandemic-era thanks to the country’s highest weekly demand (28 million room nights sold) since August 2019. While occupancy was up, the occupancy comparison with 2019 softened slightly from the week prior. ADR was down marginally from the previous week as was the ADR comparison to 2019.

 

Among the Top 25 Markets, San Diego saw the only occupancy increase over 2019 (+0.5% to 86.0%).

New York City (86.6%), San Diego and Seattle (85.0%) led the major markets in absolute occupancy for the week.

Minneapolis reported the largest occupancy decrease from 2019 (-18.9% to 70.6%).

Miami posted the largest ADR gain over 2019 (+32.9% to US$203.14).

The steepest RevPAR deficits were in Minneapolis (-23.1% to US$94.15) and San Francisco (-20.7% to US$167.90).

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

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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