U.S. hotel performance fell from the previous week, according to STR‘s latest data through 4 March.
26 February through 4 March 2023 (percentage change from comparable weeks in 2022, 2019):
- Occupancy: 62.8% (+3.0%, -5.6%)
- Average daily rate (ADR): US$151.35 (+8.9%, +14.1%)
- Revenue per available room (RevPAR): US$95.06 (+12.1%, +7.7%)
Among the Top 25 Markets, Detroit saw the highest occupancy increase over 2019 (+5.0% to 63.2%), while Washington, D.C. was up the most from last year (+23.6% to 64.1%).
D.C. also showed the most substantial RevPAR growth year over year (+52.2% to US$113.56).
In terms of ADR, Las Vegas (US$196.65) reported the highest ADR increase when measuring against 2019 (+56.8%) and 2022 (+33.7%). Las Vegas also saw the largest jump in RevPAR over 2019 (+54.3% to US$153.55).
The steepest RevPAR declines from 2019 were seen in San Francisco (-51.4% to US$117.39) and New Orleans (-19.4% to US$122.95). Year over year, Miami (-4.2% to US$225.72) was the only Top 25 Market to report a RevPAR decrease.
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.