HENDERSONVILLE, Tennessee – The U.S. hotel industry reported higher performance than the month prior, along with better indexed comparisons with 2019, according to February 2022 data from STR.
February 2022 (percentage change from February 2019):
- Occupancy: 56.9% (-8.2%)
- Average daily rate (ADR): US$137.39 (+6.8%)
- Revenue per available room (RevPAR): US$78.24 (-1.9%)
On a nominal basis, the country’s ADR level was the highest for any month since August 2021. When adjusted for inflation, the February ADR level was roughly 5% below the 2019 comparable.
Among the Top 25 Markets, Miami experienced the highest occupancy level (81.6%), which was still down 3.0% from the market’s 2019 benchmark.
Of note, Norfolk/Virginia Beach saw the only occupancy increase over 2019 (+3.0% to 52.1%).
Markets with the lowest occupancy for the month included Minneapolis (41.7%) and Chicago (43.8%).
San Francisco/San Mateo reported the steepest decline in occupancy when compared with 2019 (-40.5%).
Overall, the Top 25 Markets showed higher occupancy and ADR than all other markets.
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Additional Performance Data
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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.