US Hotel Performance Weakens in Week Ended Oct. 1 – STR EXTRA
October 7, 2022 | S&P Global Market Intelligence
Performance metrics for the U.S. hotel industry weakened during the week ended Oct. 1 owing to the Rosh Hashanah holiday, according to STR, which tracks the hospitality industry.
Occupancy slipped to 66.4% from 70% during the previous week. Occupancy registered a 2.4% decline from the same period of 2019.
Both revenue per available room and average daily rate increased from the 2019 levels. RevPAR was up 12.9% to $99.36 and ADR climbed 15.7% to $149.71. However, the metrics were down on a week-over-week basis.
STR is measuring the recovery of the lodging industry against comparable periods from 2019 due to the impact of the pandemic.
Phoenix saw the largest occupancy increase from 2019 levels, climbing 7.5% to 69.7%.
San Diego registered the largest ADR gain, with a 29.8% jump to $203.71. The only market to post an ADR drop was San Francisco, which dropped 2.8% to $234.73.
San Francisco and Minneapolis saw the steepest RevPAR declines, slipping 14.1% to $176.63 and 10% to $79.76, respectively.
