U.S. hotel performance showed mixed results from the previous week but remained up year over year, according to STR‘s latest data through 29 April.
23-29 April 2023 (percentage change from comparable week in 2022):
- Occupancy: 66.6% (+0.1%)
- Average daily rate (ADR): US$156.14 (+5.5%)
- Revenue per available room (RevPAR): US$104.01 (+5.6%)
Among the Top 25 Markets, Boston saw the highest year-over-year occupancy increase (+15.3% to 75.6%).
Of note, New York City (87.8%), Las Vegas (81.5%), and San Francisco (81.1%) were the only three markets to report occupancy above 80%.
Helped by the RSA Conference, San Francisco also reported the largest increases in ADR (+38.9% to US$303.25) and RevPAR (+47.0% to US$245.99).
The steepest RevPAR declines were seen in Miami (-16.3% to US$165.08) and Las Vegas (-12.7% to US$130.28).
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. 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.