U.S. hotel performance jumped from the previous week and revenue per available room (RevPAR) hit an all-time high weekly on a nominal basis, according to STR’s latest data through June 11.
June 5-11, 2022 (percentage change compared to a comparable week in 2019*):
- Occupancy: 70.6% (-4.1%)
- Average Daily Rate (ADR): $155.37 (+15.4%)
- Revenue per available room (RevPAR): $109.76 (+10.7%)
In addition to the weekly RevPAR record, ADR and occupancy levels were the second and third highest respectively in the pandemic era.
- Overall, the top 25 markets posted their highest readings since the start of the pandemic.
- Although none of these markets showed an increase in occupancy rate compared to 2019, Tampa was closest to its pre-pandemic comparable (-0.1% to 72.4%).
- Seattle (85.2%), San Francisco/San Mateo (84.3%) and New York (85.1%) led the major markets in absolute occupancy for the week.
- New Orleans recorded the largest drop in occupancy compared to 2019 (-17.4% to 60.3%).
- Miami posted the largest ADR gain of 2019 (+32.0% to US$205.18).
- The largest RevPAR deficits were recorded in philadelphia cream (-5.8% to US$111.03) and Island of Oahu (-5.0% to US$207.14).
- *Due to the impact of the pandemic, STR measures the recovery against comparable periods from 2019.
STR provides premium benchmarking data, analysis and market insights for the global hospitality industry. Founded in 1985, STR operates in 15 countries with North American headquarters in Hendersonville, Tennessee, international headquarters in London, and Asia-Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of online commercial real estate information, analysis and marketplaces. For more information, please visit str.com and costargroup.com.