Helped by spring break travel, U.S. hotel performance increased from the previous week, according to STR‘s latest data through 18 March.
12-18 March 2023 (percentage change from comparable weeks in 2022, 2019):
- Occupancy: 67.6% (+1.3%, -2.5%)
- Average daily rate (ADR): US$167.04 (+8.9%, +23.9%)
- Revenue per available room (RevPAR): US$112.89 (+10.4%, +20.8%)
Among the Top 25 Markets, Boston saw the highest year-over-year increase in occupancy (+17.8% to 71.8%), while Houston saw the highest occupancy lift over 2019 (+9.6% to 72.5%).
Las Vegas showed the most substantial ADR (+77.9% to US$306.79) and RevPAR growth (+101.5% to US$277.09) year over year. The market also reported the highest increases in the metrics when measuring against 2019: ADR (+113.2% to US$306.79) and RevPAR (+116.9% to US$277.09).
The steepest RevPAR declines from 2019 were seen in San Francisco (-39.7% to US$139.73) and Philadelphia (-12.9% to US$83.68). Year over year, Miami reported the largest RevPAR decrease (-8.9% to US$252.69).
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), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com.